Lantz Financial LLC Grows Stock Holdings in 3M (NYSE:MMM)

Lantz Financial LLC lifted its stake in shares of 3M (NYSE:MMM) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,469 shares of the conglomerate’s stock after acquiring an additional 183 shares during the quarter. Lantz Financial LLC’s holdings in 3M were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Platinum Investment Management Ltd. increased its holdings in 3M by 11.4% during the 1st quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate’s stock worth $108,000 after purchasing an additional 104 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of 3M by 2.0% during the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock valued at $562,000 after buying an additional 105 shares during the period. Fragasso Financial Advisors Inc raised its holdings in shares of 3M by 4.2% in the second quarter. Fragasso Financial Advisors Inc now owns 2,638 shares of the conglomerate’s stock valued at $270,000 after acquiring an additional 106 shares in the last quarter. Summit Financial Group Inc. lifted its stake in 3M by 3.4% in the first quarter. Summit Financial Group Inc. now owns 3,316 shares of the conglomerate’s stock worth $352,000 after acquiring an additional 110 shares during the period. Finally, Allegheny Financial Group LTD grew its holdings in 3M by 2.3% during the 4th quarter. Allegheny Financial Group LTD now owns 5,032 shares of the conglomerate’s stock worth $550,000 after acquiring an additional 113 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MMM shares. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, July 30th. Wolfe Research upgraded 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price target on the stock in a report on Thursday, June 13th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and upped their price objective for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Barclays boosted their target price on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company increased their price target on shares of 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $124.43.

3M Stock Up 1.3 %

3M stock opened at $130.08 on Wednesday. The business’s 50-day simple moving average is $119.61 and its two-hundred day simple moving average is $105.70. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The company has a market cap of $71.46 billion, a PE ratio of -10.23, a PEG ratio of 2.38 and a beta of 0.95. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $134.99.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the company earned $2.17 EPS. Equities analysts anticipate that 3M will post 7.2 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Insider Transactions at 3M

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