3M (NYSE:MMM) Shares Bought by Americana Partners LLC

Americana Partners LLC grew its holdings in 3M (NYSE:MMM) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,161 shares of the conglomerate’s stock after purchasing an additional 906 shares during the period. Americana Partners LLC’s holdings in 3M were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of MMM. Allspring Global Investments Holdings LLC lifted its stake in shares of 3M by 545.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 183,953 shares of the conglomerate’s stock valued at $25,146,000 after purchasing an additional 155,435 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of 3M in the 3rd quarter valued at $57,000. Copeland Capital Management LLC acquired a new position in shares of 3M in the 3rd quarter valued at $205,000. Raleigh Capital Management Inc. lifted its stake in shares of 3M by 2.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 3,038 shares of the conglomerate’s stock valued at $415,000 after purchasing an additional 87 shares during the last quarter. Finally, Foundations Investment Advisors LLC lifted its stake in shares of 3M by 20.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,195 shares of the conglomerate’s stock valued at $573,000 after purchasing an additional 724 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at $662,329.15. This represents a 34.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last three months. 0.34% of the stock is currently owned by company insiders.

3M Trading Up 0.2 %

MMM opened at $148.85 on Wednesday. 3M has a one year low of $75.40 and a one year high of $155.00. The company has a market cap of $80.81 billion, a P/E ratio of 19.71, a PEG ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The business’s 50-day simple moving average is $139.15 and its 200-day simple moving average is $134.03.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. As a group, equities research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date is Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. 3M’s dividend payout ratio is 38.68%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Saturday, February 1st. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Company 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.