Chicago Partners Investment Group LLC Purchases 531 Shares of 3M (NYSE:MMM)

Chicago Partners Investment Group LLC boosted its position in shares of 3M (NYSE:MMM) by 10.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,569 shares of the conglomerate’s stock after purchasing an additional 531 shares during the period. Chicago Partners Investment Group LLC’s holdings in 3M were worth $712,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Weatherly Asset Management L. P. lifted its holdings in 3M by 3.3% during the 3rd quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after purchasing an additional 86 shares during the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in 3M by 7.6% during the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 24,583 shares of the conglomerate’s stock valued at $3,360,000 after purchasing an additional 1,733 shares during the last quarter. Americana Partners LLC lifted its holdings in 3M by 4.4% during the 3rd quarter. Americana Partners LLC now owns 3,255 shares of the conglomerate’s stock valued at $445,000 after purchasing an additional 138 shares during the last quarter. Summit Wealth Partners LLC lifted its holdings in 3M by 57.6% during the 3rd quarter. Summit Wealth Partners LLC now owns 3,115 shares of the conglomerate’s stock valued at $426,000 after purchasing an additional 1,139 shares during the last quarter. Finally, LCM Capital Management Inc bought a new position in shares of 3M in the third quarter worth about $246,000. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Citigroup boosted their target price on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Mizuho boosted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.27.

Insider Activity at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. This represents 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 the SEC website. Corporate insiders own 0.34% of the company’s stock.

3M Stock Down 1.1 %

Shares of NYSE MMM opened at $125.85 on Tuesday. The stock has a market cap of $68.53 billion, a P/E ratio of 15.89, a P/E/G ratio of 2.07 and a beta of 0.95. The firm has a 50 day moving average price of $132.88 and a 200 day moving average price of $115.73. 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 52-week low of $75.40 and a 52-week high of $141.34.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.68 earnings per share. Analysts expect that 3M will post 7.28 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is currently 35.35%.

3M 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.