Foundations Investment Advisors LLC Has $573,000 Holdings in 3M (NYSE:MMM)

Foundations Investment Advisors LLC raised its stake in shares of 3M (NYSE:MMM) by 20.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,195 shares of the conglomerate’s stock after purchasing an additional 724 shares during the period. Foundations Investment Advisors LLC’s holdings in 3M were worth $573,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMM. Stonegate Investment Group LLC grew its holdings in 3M by 5.6% during the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after buying an additional 13,473 shares in the last quarter. Ausdal Financial Partners Inc. raised its holdings in shares of 3M by 6.7% in the second quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock valued at $408,000 after purchasing an additional 249 shares during the last quarter. Candriam S.C.A. lifted its position in shares of 3M by 19.2% during the second quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock valued at $3,931,000 after purchasing an additional 6,185 shares in the last quarter. True Vision MN LLC purchased a new position in 3M during the second quarter worth about $512,000. Finally, Clifford Capital Partners LLC grew its position in 3M by 21.3% in the 2nd quarter. Clifford Capital Partners LLC now owns 171,152 shares of the conglomerate’s stock worth $17,490,000 after purchasing an additional 30,009 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

3M Price Performance

Shares of NYSE MMM opened at $124.73 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a fifty-two week low of $72.47 and a fifty-two week high of $141.34. The stock has a market cap of $68.52 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. The stock has a fifty day moving average of $133.05 and a 200-day moving average of $113.65.

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

3M Dividend Announcement

The company also recently declared 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 of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup boosted their target price on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Barclays boosted their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday. Finally, 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 report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.