Quad Cities Investment Group LLC Acquires New Shares in 3M (NYSE:MMM)

Quad Cities Investment Group LLC acquired a new stake in 3M (NYSE:MMMFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,901 shares of the conglomerate’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Financial Freedom LLC acquired a new position in 3M in the fourth quarter valued at about $25,000. DHJJ Financial Advisors Ltd. acquired a new position in shares of 3M during the third quarter worth about $28,000. Briaud Financial Planning Inc acquired a new position in shares of 3M during the third quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new position in shares of 3M during the third quarter worth about $37,000. Finally, VisionPoint Advisory Group LLC boosted its position in shares of 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after buying an additional 215 shares during the period. Institutional investors own 65.24% of the company’s stock.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

3M Trading Up 1.8 %

MMM stock opened at $105.00 on Monday. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company has a fifty day moving average price of $97.26 and a two-hundred day moving average price of $97.78. 3M has a one year low of $85.35 and a one year high of $113.14. The stock has a market cap of $58.03 billion, a price-to-earnings ratio of -8.31, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00.

3M (NYSE:MMMGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the business posted $2.28 earnings per share. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts anticipate that 3M will post 9.82 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is presently -47.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Mizuho reduced their price objective on 3M from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Barclays raised 3M from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $98.00 to $107.00 in a research report on Monday, December 4th. Royal Bank of Canada decreased their price target on 3M from $85.00 to $84.00 and set an “underperform” rating for the company in a research note on Thursday, March 7th. Finally, Citigroup dropped their price objective on 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.70.

Check Out Our Latest Research Report on 3M

About 3M

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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