Bison Wealth LLC Buys 400 Shares of 3M (NYSE:MMM)

Bison Wealth LLC lifted its stake in 3M (NYSE:MMM) by 12.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,603 shares of the conglomerate’s stock after purchasing an additional 400 shares during the period. Bison Wealth LLC’s holdings in 3M were worth $394,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of 3M by 31.4% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,461 shares of the conglomerate’s stock worth $378,000 after purchasing an additional 828 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its position in shares of 3M by 1.7% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 7,815 shares of the conglomerate’s stock worth $854,000 after purchasing an additional 132 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of 3M by 4.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,938,263 shares of the conglomerate’s stock worth $211,891,000 after purchasing an additional 78,598 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of 3M in the 4th quarter worth $1,161,000. Finally, Romano Brothers AND Company boosted its position in shares of 3M by 24.4% in the 4th quarter. Romano Brothers AND Company now owns 20,711 shares of the conglomerate’s stock worth $2,264,000 after purchasing an additional 4,065 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Transactions at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays reduced their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Wells Fargo & Company dropped their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Bank of America dropped their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Citigroup raised their price objective on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, 3M has a consensus rating of “Hold” and a consensus target price of $103.50.

3M Stock Performance

MMM opened at $91.05 on Wednesday. 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 business’s 50-day moving average price is $95.87 and its two-hundred day moving average price is $97.31. The company has a market capitalization of $50.38 billion, a price-to-earnings ratio of -7.21, a P/E/G ratio of 1.61 and a beta of 1.02. 3M has a 1 year low of $71.12 and a 1 year high of $95.67.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the business earned $2.28 earnings per share. 3M’s quarterly revenue was down 1.1% on a year-over-year basis. Equities analysts expect that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.63%. 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 currently -47.82%.

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.