Intelligent Financial Strategies Makes New Investment in 3M Company (NYSE:MMM)

Intelligent Financial Strategies acquired a new stake in shares of 3M Company (NYSE:MMM) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 287 shares of the conglomerate’s stock, valued at approximately $42,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in 3M during the 4th quarter valued at about $26,000. REAP Financial Group LLC raised its stake in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the 4th quarter worth approximately $27,000. Pinney & Scofield Inc. bought a new stake in 3M during the 4th quarter worth approximately $28,000. Finally, Curat Global LLC acquired a new stake in 3M during the 1st quarter valued at $29,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MMM shares. Barclays boosted their price objective on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Citigroup upped their price target on shares of 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Wednesday, June 11th. Finally, Bank of America boosted their target price on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $155.83.

Insider Buying and Selling at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the completion of the sale, the executive vice president now directly owns 6,127 shares of the company’s stock, valued at $913,045.54. This represents a 56.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction that occurred on 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 $4,654,663.64. This represents a 19.83% 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.

3M Stock Up 2.1%

Shares of NYSE:MMM opened at $150.89 on Friday. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The stock has a market cap of $81.21 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 3.07 and a beta of 1.03. The company has a 50 day moving average of $144.39 and a 200-day moving average of $142.61. 3M Company has a one year low of $98.26 and a one year high of $156.35.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. On average, sell-side analysts forecast that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.94%. 3M’s dividend payout ratio is presently 36.87%.

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.