Hantz Financial Services Inc. Makes New $3.49 Million Investment in 3M (NYSE:MMM)

Hantz Financial Services Inc. acquired a new stake in 3M (NYSE:MMM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 34,102 shares of the conglomerate’s stock, valued at approximately $3,485,000.

Several other institutional investors also recently modified their holdings of the company. Tributary Capital Management LLC bought a new position in 3M during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of 3M during the 2nd quarter worth approximately $28,000. Northwest Investment Counselors LLC bought a new stake in 3M in the 1st quarter valued at $32,000. Finally, TruNorth Capital Management LLC acquired a new stake in 3M during the 2nd quarter valued at $33,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MMM shares. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Citigroup raised their price objective on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Royal Bank of Canada upped their target price on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research report on Monday, July 29th. Barclays lifted their price target on 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Vertical Research raised 3M from a “hold” rating to a “buy” rating and upped their price objective for the company from $92.00 to $140.00 in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $123.57.

3M Trading Up 1.3 %

MMM opened at $134.69 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $74.53 billion, a price-to-earnings ratio of -10.59, a P/E/G ratio of 2.34 and a beta of 0.95. The company has a 50-day simple moving average of $114.92 and a 200 day simple moving average of $103.34. 3M has a twelve month low of $71.12 and a twelve month high of $134.99.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the prior year, the business earned $2.17 earnings per share. Analysts predict that 3M will post 7.21 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, August 26th. 3M’s payout ratio is -22.01%.

Insider Transactions at 3M

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’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 transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.