XML Financial LLC Increases Position in 3M (NYSE:MMM)

XML Financial LLC lifted its stake in 3M (NYSE:MMMGet Rating) by 141.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,906 shares of the conglomerate’s stock after purchasing an additional 4,040 shares during the quarter. XML Financial LLC’s holdings in 3M were worth $763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MMM. Better Money Decisions LLC bought a new stake in 3M in the second quarter worth $34,000. Heritage Wealth Management LLC bought a new position in 3M in the 2nd quarter worth about $41,000. Prentice Wealth Management LLC bought a new stake in 3M during the 2nd quarter valued at about $45,000. Artemis Wealth Advisors LLC purchased a new position in 3M in the second quarter worth about $58,000. Finally, Alaska Permanent Fund Corp lifted its stake in shares of 3M by 9,440.0% in the third quarter. Alaska Permanent Fund Corp now owns 477 shares of the conglomerate’s stock worth $53,000 after buying an additional 472 shares in the last quarter. Hedge funds and other institutional investors own 65.61% of the company’s stock.

Insider Buying and Selling

In other 3M news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.28, for a total transaction of $135,245.88. Following the sale, the senior vice president now directly owns 3,313 shares of the company’s stock, valued at $418,365.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 3M news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.28, for a total transaction of $135,245.88. Following the completion of the sale, the senior vice president now directly owns 3,313 shares of the company’s stock, valued at approximately $418,365.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kevin H. Rhodes sold 5,703 shares of the business’s stock in a transaction on Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the completion of the transaction, the executive vice president now directly owns 2,033 shares in the company, valued at approximately $256,971.20. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

3M Stock Performance

NYSE:MMM opened at $115.00 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.97 and a current ratio of 1.56. The stock has a 50-day simple moving average of $124.56 and a two-hundred day simple moving average of $126.19. The firm has a market capitalization of $63.57 billion, a PE ratio of 10.02, a P/E/G ratio of 1.27 and a beta of 1.00. 3M has a 52-week low of $102.58 and a 52-week high of $175.25.

3M (NYSE:MMMGet Rating) last announced its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $2.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.10). 3M had a net margin of 18.91% and a return on equity of 40.03%. The company had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter last year, the firm posted $2.31 earnings per share. The company’s revenue was down 5.9% compared to the same quarter last year. Analysts forecast that 3M will post 10.17 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 12th. Investors of record on Friday, November 18th were paid a dividend of $1.49 per share. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date of this dividend was Thursday, November 17th. 3M’s dividend payout ratio (DPR) is 51.92%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MMM shares. StockNews.com started coverage on shares of 3M in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays lowered their price target on 3M from $130.00 to $122.00 in a report on Wednesday. Morgan Stanley lifted their price objective on 3M from $108.00 to $110.00 and gave the stock an “underweight” rating in a report on Wednesday, October 26th. Citigroup raised their price target on shares of 3M from $117.00 to $126.00 and gave the company a “neutral” rating in a report on Friday, December 9th. Finally, Mizuho decreased their price objective on shares of 3M from $140.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average price target of $131.71.

About 3M

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

See Also

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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