Bontempo Ohly Capital Mgmt LLC Purchases 808 Shares of 3M (NYSE:MMM)

Bontempo Ohly Capital Mgmt LLC lifted its position in 3M (NYSE:MMM) by 3.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,680 shares of the conglomerate’s stock after purchasing an additional 808 shares during the quarter. 3M comprises approximately 1.2% of Bontempo Ohly Capital Mgmt LLC’s portfolio, making the stock its 24th largest holding. Bontempo Ohly Capital Mgmt LLC’s holdings in 3M were worth $2,420,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Tributary Capital Management LLC bought a new stake in 3M during the first quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. grew its position in 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. MFA Wealth Advisors LLC purchased a new position in 3M in the second quarter worth $28,000. Meeder Asset Management Inc. increased its stake in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 269 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in 3M during the first quarter valued at about $32,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling

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

3M Trading Down 1.5 %

MMM opened at $137.30 on Friday. 3M has a one year low of $71.12 and a one year high of $140.72. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The business has a 50 day simple moving average of $127.98 and a two-hundred day simple moving average of $109.41. The firm has a market capitalization of $75.98 billion, a price-to-earnings ratio of -10.79, a PEG ratio of 2.51 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter last year, the firm posted $2.17 earnings per share. Analysts predict that 3M will post 7.22 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and increased their price target for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Wolfe Research raised shares of 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research note on Thursday, June 13th. Morgan Stanley initiated coverage on shares of 3M in a report on Friday, September 6th. They set an “underweight” rating and a $125.00 target price on the stock. Finally, Barclays boosted their price target on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, 3M has an average rating of “Hold” and a consensus target price of $124.43.

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.