F M Investments LLC Takes $207,000 Position in 3M (NYSE:MMM)

F M Investments LLC purchased a new stake in shares of 3M (NYSE:MMM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,895 shares of the conglomerate’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Trilogy Capital Inc. boosted its position in 3M by 11.8% during the third quarter. Trilogy Capital Inc. now owns 24,404 shares of the conglomerate’s stock valued at $2,285,000 after purchasing an additional 2,583 shares during the last quarter. Ziegler Capital Management LLC boosted its position in 3M by 2.6% during the third quarter. Ziegler Capital Management LLC now owns 19,626 shares of the conglomerate’s stock valued at $1,837,000 after purchasing an additional 491 shares during the last quarter. Advisors Management Group Inc. ADV boosted its position in 3M by 4.5% during the third quarter. Advisors Management Group Inc. ADV now owns 12,373 shares of the conglomerate’s stock valued at $1,158,000 after purchasing an additional 531 shares during the last quarter. Riverview Trust Co boosted its position in 3M by 81.4% during the third quarter. Riverview Trust Co now owns 1,585 shares of the conglomerate’s stock valued at $148,000 after purchasing an additional 711 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in 3M by 265,023.1% during the third quarter. Exchange Traded Concepts LLC now owns 68,932 shares of the conglomerate’s stock valued at $6,453,000 after purchasing an additional 68,906 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of a number of analyst reports. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 16th. Royal Bank of Canada reduced their price target on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Citigroup boosted their price target on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company reduced their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $104.00.

3M Stock Performance

MMM traded up $0.38 on Tuesday, hitting $93.00. 3,694,505 shares of the stock traded hands, compared to its average volume of 5,803,995. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $51.46 billion, a PE ratio of -7.36, a P/E/G ratio of 1.63 and a beta of 1.02. The business has a fifty day moving average price of $95.73 and a two-hundred day moving average price of $97.43.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period in the previous year, the company posted $2.28 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, research analysts predict that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.51 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a dividend yield of 6.49%. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio is currently -47.82%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

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.