James J. Burns & Company LLC Makes New $1.24 Million Investment in 3M (NYSE:MMM)

James J. Burns & Company LLC acquired a new stake in shares of 3M (NYSE:MMM) during the 4th quarter, HoldingsChannel reports. The fund acquired 9,573 shares of the conglomerate’s stock, valued at approximately $1,235,000.

Several other institutional investors have also modified their holdings of the stock. Gilbert & Cook Inc. boosted its stake in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after buying an additional 73 shares during the period. Childress Capital Advisors LLC raised its position in 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares during the period. CVA Family Office LLC lifted its stake in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares in the last quarter. Wynn Capital LLC boosted its position in shares of 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M 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 owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MMM. Barclays lifted their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Down 1.4 %

Shares of NYSE:MMM opened at $150.13 on Tuesday. The firm has a 50 day simple moving average of $135.21 and a 200 day simple moving average of $131.26. The company has a market cap of $81.76 billion, a PE ratio of 19.89, a price-to-earnings-growth 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. 3M has a 52 week low of $75.40 and a 52 week high of $155.00.

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

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.