Mezzasalma Advisors LLC Purchases Shares of 1,669 3M (NYSE:MMM)

Mezzasalma Advisors LLC acquired a new position in shares of 3M (NYSE:MMM) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,669 shares of the conglomerate’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. CWM LLC increased its holdings in shares of 3M by 22.2% in the 1st quarter. CWM LLC now owns 35,789 shares of the conglomerate’s stock valued at $3,796,000 after acquiring an additional 6,513 shares during the last quarter. Alaska Permanent Fund Corp raised its stake in 3M by 322.5% during the 1st quarter. Alaska Permanent Fund Corp now owns 17,245 shares of the conglomerate’s stock worth $1,829,000 after acquiring an additional 13,163 shares in the last quarter. Perpetual Ltd raised its position in 3M by 85.7% in the 1st quarter. Perpetual Ltd now owns 26,830 shares of the conglomerate’s stock valued at $2,846,000 after purchasing an additional 12,384 shares during the last quarter. Czech National Bank grew its stake in shares of 3M by 0.6% during the 1st quarter. Czech National Bank now owns 97,275 shares of the conglomerate’s stock worth $10,318,000 after purchasing an additional 541 shares during the period. Finally, Ridgewood Investments LLC grew its position in 3M by 1.2% during the first quarter. Ridgewood Investments LLC now owns 17,983 shares of the conglomerate’s stock worth $1,907,000 after buying an additional 218 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Down 0.7 %

NYSE:MMM opened at $135.41 on Thursday. The stock’s fifty day moving average price is $132.24 and its two-hundred day moving average price is $112.14. The company has a market cap of $74.93 billion, a price-to-earnings ratio of -10.72, a P/E/G ratio of 2.49 and a beta of 0.95. 3M has a 52-week low of $71.12 and a 52-week high of $140.72. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36.

3M (NYSE:MMM) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter last year, the firm earned $2.17 EPS. On average, analysts anticipate that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, August 26th. 3M’s payout ratio is presently -22.01%.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of research reports. Mizuho lifted their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday. Royal Bank of Canada upped their price objective on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research report on Monday, July 29th. Bank of America upped their target price on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Morgan Stanley assumed coverage on shares of 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target for the company. Finally, StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $130.57.

3M Profile

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.