Checchi Capital Advisers LLC Grows Stock Position in 3M (NYSE:MMM)

Checchi Capital Advisers LLC lifted its stake in 3M (NYSE:MMMGet Rating) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,315 shares of the conglomerate’s stock after buying an additional 167 shares during the period. Checchi Capital Advisers LLC’s holdings in 3M were worth $791,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Landmark Wealth Management LLC purchased a new position in 3M during the 1st quarter valued at about $25,000. DB Fitzpatrick & Co Inc purchased a new position in shares of 3M during the 4th quarter worth approximately $29,000. Ritter Daniher Financial Advisory LLC grew its holdings in shares of 3M by 98.9% during the 4th quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 89 shares during the period. US Asset Management LLC purchased a new position in shares of 3M during the 1st quarter worth approximately $34,000. Finally, First Quadrant LLC CA purchased a new position in shares of 3M during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 67.22% of the company’s stock.

3M Trading Down 0.5 %

NYSE:MMM opened at $147.41 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.47 and a quick ratio of 0.90. The firm has a market capitalization of $83.96 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.50 and a beta of 0.97. 3M has a one year low of $125.60 and a one year high of $202.77. The business has a fifty day moving average price of $136.16 and a 200-day moving average price of $146.39.

3M (NYSE:MMMGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $2.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.01. 3M had a return on equity of 39.11% and a net margin of 11.83%. The business had revenue of $8.70 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the business posted $2.59 EPS. 3M’s revenue for the quarter was down 2.2% compared to the same quarter last year. Sell-side analysts forecast that 3M will post 10.4 EPS for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Shareholders of record on Friday, May 20th were paid a $1.49 dividend. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $5.96 dividend on an annualized basis and a yield of 4.04%. 3M’s payout ratio is presently 83.24%.

Insiders Place Their Bets

In other 3M news, insider Michael G. Vale sold 36,771 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $143.26, for a total transaction of $5,267,813.46. Following the completion of the transaction, the insider now owns 65,321 shares of the company’s stock, valued at approximately $9,357,886.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Zoe L. Dickson sold 2,265 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $144.40, for a total value of $327,066.00. Following the completion of the transaction, the executive vice president now owns 893 shares of the company’s stock, valued at approximately $128,949.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael G. Vale sold 36,771 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $143.26, for a total transaction of $5,267,813.46. Following the completion of the transaction, the insider now directly owns 65,321 shares of the company’s stock, valued at approximately $9,357,886.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,465 shares of company stock worth $5,956,664. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of research analyst reports. Mizuho upped their target price on 3M from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Morgan Stanley upped their target price on 3M from $126.00 to $131.00 and gave the stock an “underweight” rating in a report on Wednesday, July 27th. Argus cut 3M from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft boosted their price target on 3M from $146.00 to $148.00 and gave the stock a “hold” rating in a research report on Wednesday, July 27th. Finally, UBS Group began coverage on 3M in a research report on Tuesday, July 26th. They issued a “reduce” rating on the stock. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $152.00.

3M Company Profile

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3M Company operates as a diversified technology company worldwide. It 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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