Childress Capital Advisors LLC Purchases Shares of 1,497 3M (NYSE:MMM)

Childress Capital Advisors LLC purchased a new stake in 3M (NYSE:MMM) during the third quarter, Holdings Channel reports. The firm purchased 1,497 shares of the conglomerate’s stock, valued at approximately $205,000.

Other large investors have also recently bought and sold shares of the company. Capital World Investors acquired a new position in 3M in the first quarter worth $165,986,000. International Assets Investment Management LLC boosted its stake in 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. National Bank of Canada FI boosted its stake in 3M by 218.3% in the first quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after purchasing an additional 1,021,440 shares in the last quarter. Janus Henderson Group PLC boosted its stake in 3M by 1,015.6% in the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after purchasing an additional 808,914 shares in the last quarter. Finally, Electron Capital Partners LLC acquired a new position in shares of 3M during the second quarter valued at $76,732,000. 65.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 transaction of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 transaction of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

3M Stock Down 1.3 %

NYSE:MMM opened at $127.59 on Thursday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The company has a market cap of $70.60 billion, a PE ratio of -10.03, a PEG ratio of 2.42 and a beta of 0.95. 3M has a 52-week low of $74.51 and a 52-week high of $141.34. The stock has a 50-day simple moving average of $133.07 and a 200 day simple moving average of $114.80.

3M (NYSE:MMM) last posted its quarterly earnings data 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 business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. On average, sell-side analysts expect that 3M will post 7.26 EPS for the current fiscal 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. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.19%. 3M’s payout ratio is presently -22.01%.

Wall Street Analyst Weigh In

MMM has been the topic of several research reports. Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup increased their target price on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, 3M has an average rating of “Hold” and an average target price of $139.27.

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.