1,546 Shares in 3M (NYSE:MMM) Bought by Marshall Financial Group LLC

Marshall Financial Group LLC acquired a new position in shares of 3M (NYSE:MMM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,546 shares of the conglomerate’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of 3M by 0.8% during the first quarter. Vanguard Group Inc. now owns 49,461,361 shares of the conglomerate’s stock worth $5,246,367,000 after acquiring an additional 377,703 shares in the last quarter. Bank of New York Mellon Corp increased its position in 3M by 11.8% during the second quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock worth $517,617,000 after buying an additional 533,520 shares during the last quarter. Pacer Advisors Inc. increased its position in 3M by 2.0% during the second quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock worth $506,135,000 after buying an additional 97,340 shares during the last quarter. AQR Capital Management LLC increased its position in 3M by 18.6% during the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after buying an additional 396,773 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in 3M by 8.2% during the first quarter. Nordea Investment Management AB now owns 2,168,811 shares of the conglomerate’s stock worth $228,875,000 after buying an additional 164,236 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

3M Stock Down 0.4 %

MMM stock opened at $135.14 on Friday. 3M has a twelve month low of $71.12 and a twelve month high of $140.72. The company has a market cap of $74.78 billion, a PE ratio of -10.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The business’s 50-day simple moving average is $132.67 and its 200 day simple moving average is $112.59. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM) last released its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping 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 the consensus estimate of $5.85 billion. During the same period last year, the business earned $2.17 earnings per share. On average, research analysts anticipate that 3M will post 7.24 earnings per share for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MMM shares. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Royal Bank of Canada increased their target price on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Barclays increased their target price on shares of 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $130.57.

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.