3M (NYSE:MMM) Shares Acquired by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC increased its position in shares of 3M (NYSE:MMM) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,462 shares of the conglomerate’s stock after acquiring an additional 95 shares during the period. Mount Yale Investment Advisors LLC’s holdings in 3M were worth $1,157,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tributary Capital Management LLC bought a new stake in shares of 3M in the 1st quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in 3M in the second quarter worth approximately $28,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. lifted its position in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

3M Stock Performance

MMM stock opened at $124.73 on Friday. The firm has a 50 day moving average of $133.05 and a two-hundred day moving average of $113.65. 3M has a 12 month low of $72.47 and a 12 month high of $141.34. The company has a market capitalization of $68.52 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 2.42 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the business posted $2.68 earnings per share. The business’s quarterly revenue was down 24.3% on a year-over-year basis. As a group, equities analysts anticipate that 3M will post 7.26 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a yield of 2.24%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MMM. Citigroup increased their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada raised their price objective on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday. Barclays increased their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Bank of America lifted their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.