3M (NYSE:MMM) Shares Bought by Copperwynd Financial LLC

Copperwynd Financial LLC raised its stake in 3M (NYSE:MMM) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,139 shares of the conglomerate’s stock after purchasing an additional 1,204 shares during the period. Copperwynd Financial LLC’s holdings in 3M were worth $2,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC grew its stake in 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter. Amundi grew its stake in shares of 3M by 55.7% in the 4th quarter. Amundi now owns 2,511,095 shares of the conglomerate’s stock valued at $337,815,000 after purchasing an additional 898,244 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of 3M in the fourth quarter valued at approximately $103,788,000. Jennison Associates LLC purchased a new stake in shares of 3M in the third quarter valued at approximately $82,208,000. Finally, Parsifal Capital Management LP boosted its stake in shares of 3M by 179.0% in the third quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock valued at $112,107,000 after buying an additional 526,194 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MMM. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report 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 report on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Finally, Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

3M Price Performance

Shares of NYSE MMM opened at $150.58 on Friday. 3M has a 1-year low of $85.62 and a 1-year high of $156.35. The business has a 50-day moving average of $146.42 and a 200-day moving average of $136.82. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market capitalization of $81.75 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the firm posted $2.42 earnings per share. The company’s revenue was down 25.0% compared to the same quarter last year. On average, equities analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.94%. 3M’s payout ratio is 38.68%.

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.