1,878 Shares in 3M (NYSE:MMM) Bought by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC purchased a new position in shares of 3M (NYSE:MMM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,878 shares of the conglomerate’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Freedom LLC acquired a new stake in 3M during the 4th quarter worth $25,000. CGC Financial Services LLC grew its position in 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in 3M during the 3rd quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new position in 3M during the 3rd quarter worth $37,000. Finally, VisionPoint Advisory Group LLC grew its position in 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 0.1 %

MMM stock opened at $90.95 on Thursday. The company has a market cap of $50.33 billion, a P/E ratio of -7.20, a P/E/G ratio of 1.61 and a beta of 1.02. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The company’s 50-day moving average price is $95.81 and its 200 day moving average price is $97.26. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

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

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.82%.

Analyst Ratings Changes

Several brokerages have issued reports on MMM. Barclays lowered their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lowered their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Bank of America lowered their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.00.

Insider Buying and Selling at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

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.