F M Investments LLC Buys 1,991 Shares of 3M (NYSE:MMM)

F M Investments LLC increased its stake in shares of 3M (NYSE:MMM) by 8.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 24,329 shares of the conglomerate’s stock after buying an additional 1,991 shares during the quarter. F M Investments LLC’s holdings in 3M were worth $3,327,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. CVA Family Office LLC raised its holdings in shares of 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares during the period. Fortis Capital Advisors LLC grew its stake in shares of 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after acquiring an additional 84 shares during the period. KMG Fiduciary Partners LLC increased its holdings in 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after acquiring an additional 84 shares during the last quarter. TCV Trust & Wealth Management Inc. increased its holdings in 3M by 1.3% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after acquiring an additional 84 shares during the last quarter. Finally, Weatherly Asset Management L. P. lifted its holdings in 3M by 3.3% during the third quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after purchasing an additional 86 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity

In related news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

3M Stock Performance

3M stock opened at $127.22 on Friday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The firm’s fifty day moving average price is $133.00 and its 200-day moving average price is $115.31. The stock has a market cap of $69.28 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s revenue was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 earnings per share. On average, equities research analysts expect that 3M will post 7.28 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MMM shares. Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Royal Bank of Canada raised their price target on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, October 23rd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $139.27.

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.