3M Company (NYSE:MMM) Shares Bought by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC raised its position in 3M Company (NYSE:MMM) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,564 shares of the conglomerate’s stock after acquiring an additional 1,388 shares during the quarter. 3M accounts for about 2.1% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 14th largest holding. Strengthening Families & Communities LLC’s holdings in 3M were worth $3,480,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. REAP Financial Group LLC raised its position in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Pinney & Scofield Inc. acquired a new position in shares of 3M in the 4th quarter valued at approximately $28,000. Curat Global LLC acquired a new position in shares of 3M in the 1st quarter valued at approximately $29,000. Intelligent Financial Strategies acquired a new position in shares of 3M in the 1st quarter valued at approximately $42,000. Finally, Investment Management Corp VA ADV raised its position in shares of 3M by 173.6% in the 1st quarter. Investment Management Corp VA ADV now owns 301 shares of the conglomerate’s stock valued at $44,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In other news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the transaction, the executive vice president owned 31,372 shares of the company’s stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the stock in a transaction on 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 transaction, the insider directly owned 2,900 shares of the company’s stock, valued at approximately $435,522. The trade was a 68.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,316 shares of company stock valued at $3,780,296 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank Of Canada upped their target price on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Citigroup upped their target price on 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, May 30th. JPMorgan Chase & Co. set a $167.00 target price on 3M in a research report on Friday, July 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research report on Tuesday, July 29th. Finally, Barclays set a $170.00 price target on 3M in a research report on Friday, July 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus price target of $158.10.

3M Price Performance

Shares of MMM opened at $153.33 on Friday. The company has a market cap of $81.67 billion, a P/E ratio of 21.33, a PEG ratio of 2.97 and a beta of 1.05. The stock has a fifty day moving average price of $149.98 and a 200 day moving average price of $146.96. 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 Company has a 12 month low of $121.98 and a 12 month high of $164.15.

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

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M’s payout ratio 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.