TD Private Client Wealth LLC Acquires 319 Shares of 3M Company $MMM

TD Private Client Wealth LLC increased its holdings in shares of 3M Company (NYSE:MMM) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,643 shares of the conglomerate’s stock after acquiring an additional 319 shares during the quarter. TD Private Client Wealth LLC’s holdings in 3M were worth $250,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MMM. Brighton Jones LLC raised its stake in shares of 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after buying an additional 1,872 shares during the period. Bison Wealth LLC grew its position in 3M by 10.2% during the fourth quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate’s stock worth $355,000 after buying an additional 255 shares in the last quarter. Czech National Bank grew its position in 3M by 5.6% during the first quarter. Czech National Bank now owns 124,695 shares of the conglomerate’s stock worth $18,313,000 after buying an additional 6,623 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its holdings in shares of 3M by 2.7% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 5,786 shares of the conglomerate’s stock worth $850,000 after purchasing an additional 150 shares in the last quarter. Finally, Milestone Asset Management LLC purchased a new position in shares of 3M in the 1st quarter worth about $3,208,000. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MMM shares. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Saturday, September 13th. JPMorgan Chase & Co. set a $167.00 price target 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. Finally, Barclays set a $170.00 price target on 3M in a research note on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $161.78.

Insider Transactions at 3M

In other 3M news, CAO Theresa E. Reinseth sold 3,477 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the sale, the chief accounting officer directly owned 2,561 shares of the company’s stock, valued at $385,763.43. This trade represents a 57.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of 3M stock in a transaction dated Thursday, August 7th. The stock was 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 in the company, valued at $435,522. This trade represents a 68.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

3M Stock Performance

MMM stock opened at $152.74 on Monday. 3M Company has a 1 year low of $121.98 and a 1 year high of $164.15. The stock’s fifty day moving average price is $153.86 and its 200-day moving average price is $148.40. The company has a market cap of $81.35 billion, a P/E ratio of 21.24, a price-to-earnings-growth ratio of 2.77 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.

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

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 25th were issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M’s dividend payout ratio (DPR) is currently 40.61%.

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.