880 Shares in 3M (NYSE:MMM) Bought by CoreFirst Bank & Trust

CoreFirst Bank & Trust bought a new stake in 3M (NYSE:MMM) in the fourth quarter, HoldingsChannel reports. The fund bought 880 shares of the conglomerate’s stock, valued at approximately $114,000.

A number of other hedge funds also recently modified their holdings of the business. Financial Life Planners bought a new stake in 3M during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new stake in shares of 3M during the third quarter worth $27,000. True Wealth Design LLC raised its holdings in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares during the period. ORG Partners LLC lifted its position in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its stake in 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 163 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Bank of America lifted their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. upped their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Saturday. Finally, Barclays increased their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, 3M has an average rating of “Moderate Buy” and a consensus target price of $149.13.

3M Stock Performance

Shares of NYSE MMM opened at $153.53 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 company has a market capitalization of $83.35 billion, a P/E ratio of 20.34, a P/E/G ratio of 3.30 and a beta of 0.97. 3M has a 12 month low of $85.62 and a 12 month high of $156.35. The stock has a 50 day moving average of $149.05 and a 200-day moving average of $137.88.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for 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 quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 earnings per share. As a group, equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

Insider Activity

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by insiders.

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.