M Holdings Securities Inc. Makes New Investment in 3M (NYSE:MMM)

M Holdings Securities Inc. bought a new position in shares of 3M (NYSE:MMMGet Rating) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 4,780 shares of the conglomerate’s stock, valued at approximately $712,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Asset Management LLC acquired a new position in 3M during the 1st quarter worth $34,000. First Quadrant LLC CA bought a new position in shares of 3M during the 1st quarter worth about $34,000. Landmark Wealth Management LLC bought a new position in shares of 3M during the 1st quarter worth about $25,000. Iron Horse Wealth Management LLC increased its holdings in shares of 3M by 125.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 288 shares of the conglomerate’s stock worth $43,000 after purchasing an additional 160 shares during the period. Finally, DeDora Capital Inc. bought a new position in shares of 3M during the 1st quarter worth about $45,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insider Transactions at 3M

In related news, insider Michael G. Vale sold 36,771 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $143.26, for a total value of $5,267,813.46. Following the transaction, the insider now directly owns 65,321 shares in the company, valued at $9,357,886.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Michael G. Vale sold 36,771 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $143.26, for a total value of $5,267,813.46. Following the transaction, the insider now directly owns 65,321 shares in the company, valued at $9,357,886.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Zoe L. Dickson sold 2,265 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $144.40, for a total transaction of $327,066.00. Following the completion of the transaction, the executive vice president now owns 893 shares in the company, valued at $128,949.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,121 shares of company stock worth $6,644,865. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. Barclays dropped their price objective on shares of 3M from $143.00 to $137.00 and set an “underweight” rating on the stock in a report on Wednesday, July 27th. TheStreet downgraded shares of 3M from a “b-” rating to a “c+” rating in a report on Wednesday, June 29th. UBS Group upgraded shares of 3M from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $118.00 to $126.00 in a report on Friday, September 9th. Sanford C. Bernstein restated a “mkt perform” rating and set a $155.00 price objective on shares of 3M in a report on Wednesday, August 17th. Finally, Wells Fargo & Company lowered their target price on shares of 3M from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $147.43.

3M Price Performance

Shares of 3M stock opened at $116.42 on Friday. 3M has a 1-year low of $115.98 and a 1-year high of $186.30. The firm’s 50-day moving average price is $135.19 and its two-hundred day moving average price is $141.29. The stock has a market capitalization of $66.31 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.22 and a beta of 0.99. The company has a current ratio of 1.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.01.

3M (NYSE:MMMGet Rating) last announced its earnings results on Tuesday, July 26th. The conglomerate reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.01. 3M had a net margin of 11.83% and a return on equity of 39.11%. The company had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the business earned $2.59 earnings per share. 3M’s quarterly revenue was down 2.2% on a year-over-year basis. On average, equities analysts predict that 3M will post 10.42 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were given a dividend of $1.49 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.12%. 3M’s payout ratio is 83.24%.

About 3M

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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