5,965 Shares in 3M (NYSE:MMM) Bought by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC bought a new position in 3M (NYSE:MMM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,965 shares of the conglomerate’s stock, valued at approximately $815,000.

Other large investors have also made changes to their positions in the company. McClarren Financial Advisors Inc. raised its position in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the period. Tributary Capital Management LLC purchased a new position in 3M in the first quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in 3M in the second quarter valued at about $28,000. Meeder Asset Management Inc. raised its position 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 purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC purchased a new position in 3M in the second quarter valued at about $33,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

Shares of NYSE:MMM traded up $0.47 during trading on Thursday, hitting $128.38. 277,962 shares of the company traded hands, compared to its average volume of 4,931,728. The stock has a market capitalization of $71.04 billion, a price-to-earnings ratio of -10.06, a PEG ratio of 2.49 and a beta of 0.95. The business’s fifty day moving average is $133.07 and its 200-day moving average is $113.57. 3M has a one year low of $72.47 and a one year high of $141.34. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. The business’s revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 earnings per share. As a group, equities analysts predict that 3M will post 7.24 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.18%. 3M’s dividend payout ratio is presently -22.01%.

Insider Transactions at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’s 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 completion of the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

MMM has been the topic of several research reports. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday. Royal Bank of Canada lifted their target price on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday. Morgan Stanley started coverage on 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 target price on the stock. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and boosted their price objective for the company from $110.00 to $150.00 in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, 3M currently has a consensus rating of “Hold” and an average target price of $135.67.

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.