waypoint wealth counsel Makes New $228,000 Investment in 3M Company (NYSE:MMM)

waypoint wealth counsel purchased a new position in shares of 3M Company (NYSE:MMM) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,555 shares of the conglomerate’s stock, valued at approximately $228,000.

A number of other large investors also recently added to or reduced their stakes in MMM. Archford Capital Strategies LLC acquired a new stake in shares of 3M in the first quarter valued at $214,000. International Assets Investment Management LLC increased its holdings in 3M by 16.9% in the first quarter. International Assets Investment Management LLC now owns 8,353 shares of the conglomerate’s stock valued at $1,227,000 after buying an additional 1,209 shares during the last quarter. BridgePort Financial Solutions LLC increased its holdings in 3M by 4.8% in the first quarter. BridgePort Financial Solutions LLC now owns 4,268 shares of the conglomerate’s stock valued at $627,000 after buying an additional 195 shares during the last quarter. Legacy Advisors LLC increased its holdings in 3M by 9.2% in the first quarter. Legacy Advisors LLC now owns 2,348 shares of the conglomerate’s stock valued at $345,000 after buying an additional 197 shares during the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in 3M by 9.6% in the first quarter. GHP Investment Advisors Inc. now owns 2,279 shares of the conglomerate’s stock valued at $335,000 after buying an additional 200 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM stock opened at $149.92 on Wednesday. The stock’s 50-day moving average is $143.64 and its two-hundred day moving average is $142.44. The firm has a market cap of $80.68 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 3.06 and a beta of 1.03. 3M Company has a 1 year low of $98.26 and a 1 year high of $156.35. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 17.79% and a return on equity of 96.19%. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. Analysts predict that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M’s dividend payout ratio (DPR) is 36.87%.

Analyst Upgrades and Downgrades

MMM has been the topic of several recent analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Wednesday, June 11th. Citigroup increased their target price on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, May 30th. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Royal Bank Of Canada increased their target price on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Finally, Barclays increased their target price on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.83.

Insider Transactions at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares of the company’s stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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.