3M (NYSE:MMM) Shares Purchased by Choreo LLC

Choreo LLC lifted its holdings in 3M (NYSE:MMM) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,444 shares of the conglomerate’s stock after purchasing an additional 513 shares during the quarter. Choreo LLC’s holdings in 3M were worth $9,094,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Czech National Bank raised its stake in 3M by 6.1% in the 3rd quarter. Czech National Bank now owns 111,909 shares of the conglomerate’s stock worth $15,298,000 after acquiring an additional 6,461 shares during the last quarter. Park Avenue Securities LLC raised its stake in 3M by 14.8% in the 3rd quarter. Park Avenue Securities LLC now owns 6,187 shares of the conglomerate’s stock worth $846,000 after acquiring an additional 796 shares during the last quarter. Everpar Advisors LLC purchased a new position in 3M in the 3rd quarter worth $251,000. Miracle Mile Advisors LLC purchased a new position in 3M in the 3rd quarter worth $218,000. Finally, Fulton Bank N.A. raised its stake in 3M by 25.0% in the 3rd quarter. Fulton Bank N.A. now owns 9,440 shares of the conglomerate’s stock worth $1,290,000 after acquiring an additional 1,890 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael F. Roman sold 45,276 shares of the company’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the completion of the transaction, the chairman now owns 175,718 shares of the company’s stock, valued at $26,359,457.18. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the subject of a number of research analyst reports. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. lifted their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Performance

Shares of MMM stock opened at $151.73 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a fifty day moving average price of $135.98 and a 200 day moving average price of $131.93. The company has a market cap of $82.62 billion, a P/E ratio of 20.10, a PEG ratio of 3.37 and a beta of 0.96. 3M has a 12 month low of $75.40 and a 12 month high of $155.00.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Sell-side analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.92%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is currently 37.09%.

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.