Hutchens & Kramer Investment Management Group LLC Purchases New Shares in 3M (NYSE:MMM)

Hutchens & Kramer Investment Management Group LLC bought a new position in 3M (NYSE:MMM) during the 4th quarter, Holdings Channel reports. The institutional investor bought 1,700 shares of the conglomerate’s stock, valued at approximately $219,000.

Several other hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC boosted its holdings in 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after acquiring an additional 79 shares in the last quarter. Wynn Capital LLC boosted its holdings in 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after acquiring an additional 80 shares in the last quarter. Harbour Investments Inc. boosted its holdings in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after acquiring an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC boosted its holdings in 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after acquiring an additional 84 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its holdings in 3M by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after acquiring an additional 84 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Mizuho upped their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group raised 3M from a “neutral” rating to a “buy” rating and upped their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Performance

Shares of MMM opened at $151.44 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The business has a 50-day simple moving average of $132.83 and a two-hundred day simple moving average of $129.55. The stock has a market cap of $82.47 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 2.46 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $152.08.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.42 earnings per share. On average, analysts expect that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 37.09%.

Insiders Place Their Bets

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael F. Roman sold 45,276 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the completion of the transaction, the chairman now directly owns 175,718 shares of the company’s stock, valued at approximately $26,359,457.18. This trade represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,903 shares of company stock worth $8,082,186 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.