Searle & CO. Takes $217,000 Position in 3M (NYSE:MMM)

Searle & CO. purchased a new position in 3M (NYSE:MMM) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,587 shares of the conglomerate’s stock, valued at approximately $217,000.

Other institutional investors have also recently bought and sold shares of the company. Global Assets Advisory LLC purchased a new position in shares of 3M in the first quarter worth approximately $1,480,000. G&S Capital LLC grew its position in 3M by 6.3% during the 1st quarter. G&S Capital LLC now owns 10,499 shares of the conglomerate’s stock worth $1,114,000 after purchasing an additional 625 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in 3M by 20.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,988 shares of the conglomerate’s stock valued at $1,696,000 after purchasing an additional 2,741 shares during the period. Cardinal Capital Management lifted its holdings in shares of 3M by 16.8% in the first quarter. Cardinal Capital Management now owns 47,749 shares of the conglomerate’s stock valued at $5,065,000 after purchasing an additional 6,867 shares in the last quarter. Finally, Buckley Wealth Management LLC boosted its position in shares of 3M by 36.7% in the first quarter. Buckley Wealth Management LLC now owns 29,889 shares of the conglomerate’s stock worth $3,170,000 after buying an additional 8,020 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

3M stock traded down $4.57 during trading hours on Wednesday, reaching $127.16. 2,634,194 shares of the company were exchanged, compared to its average volume of 4,926,561. 3M has a 12 month low of $72.47 and a 12 month high of $141.34. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The stock has a 50-day moving average of $133.03 and a 200 day moving average of $113.46. The firm has a market cap of $70.37 billion, a price-to-earnings ratio of -10.29, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. 3M’s revenue was down 24.3% compared to the same quarter last year. During the same period last year, the business posted $2.68 EPS. As a group, research analysts anticipate that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. 3M’s dividend payout ratio is presently -22.01%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MMM shares. Citigroup upped their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Barclays upped their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Finally, Bank of America boosted their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” 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 ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $134.20.

Insider Activity at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction on 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 directly owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the business’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 in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.