3M Company $MMM Shares Bought by McAdam LLC

McAdam LLC grew its holdings in 3M Company (NYSE:MMM) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,722 shares of the conglomerate’s stock after purchasing an additional 87 shares during the quarter. McAdam LLC’s holdings in 3M were worth $693,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in shares of 3M by 25.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,524 shares of the conglomerate’s stock valued at $811,000 after buying an additional 1,112 shares during the period. Focus Partners Wealth raised its position in shares of 3M by 7.3% during the 1st quarter. Focus Partners Wealth now owns 147,331 shares of the conglomerate’s stock valued at $21,637,000 after buying an additional 10,049 shares during the period. Integrity Alliance LLC. raised its position in 3M by 70.4% in the first quarter. Integrity Alliance LLC. now owns 11,796 shares of the conglomerate’s stock valued at $1,732,000 after purchasing an additional 4,875 shares during the period. Ransom Advisory Ltd purchased a new stake in 3M in the first quarter valued at approximately $835,000. Finally, SageView Advisory Group LLC raised its position in 3M by 24.3% in the first quarter. SageView Advisory Group LLC now owns 3,948 shares of the conglomerate’s stock valued at $580,000 after purchasing an additional 772 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of the business’s stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the sale, the insider directly owned 2,900 shares of the company’s stock, valued at $435,522. The trade was a 68.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Theresa E. Reinseth sold 3,477 shares of the business’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the sale, the chief accounting officer directly owned 2,561 shares of the company’s stock, valued at approximately $385,763.43. This trade represents a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

3M Price Performance

Shares of MMM opened at $153.47 on Thursday. 3M Company has a 1-year low of $121.98 and a 1-year high of $164.15. The stock has a market cap of $81.74 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.78 and a beta of 1.04. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20. The firm has a fifty day moving average price of $153.80 and a 200 day moving average price of $147.79.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.15. 3M had a net margin of 16.01% and a return on equity of 96.48%. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the previous year, the company earned $1.93 earnings per share. 3M’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be given a $0.73 dividend. The ex-dividend date of this dividend is Monday, August 25th. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M’s payout ratio is 40.61%.

Analysts Set New Price Targets

A number of analysts have issued reports on MMM shares. Barclays set a $170.00 target price on 3M in a research report on Friday, July 18th. Wells Fargo & Company reissued an “overweight” rating on shares of 3M in a research report on Friday, July 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Saturday, August 30th. Citigroup boosted their target price on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. set a $167.00 target price on 3M in a research report on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.78.

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.