Great Valley Advisor Group Inc. Purchases 3,105 Shares of 3M (NYSE:MMM)

Great Valley Advisor Group Inc. boosted its stake in 3M (NYSE:MMM) by 11.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,566 shares of the conglomerate’s stock after acquiring an additional 3,105 shares during the period. Great Valley Advisor Group Inc.’s holdings in 3M were worth $3,124,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MMM. Tributary Capital Management LLC bought a new stake in 3M in the 1st quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in 3M during the 1st quarter worth approximately $32,000. Livelsberger Financial Advisory purchased a new stake in 3M during the fourth quarter worth $35,000. Finally, Cape Investment Advisory Inc. raised its position in shares of 3M by 42.8% in the fourth quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock valued at $42,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MMM. Barclays boosted their price target on shares of 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their price target on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Citigroup upped their price objective on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Wolfe Research upgraded 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $123.57.

3M Price Performance

NYSE MMM traded up $0.21 on Wednesday, reaching $125.56. 1,719,656 shares of the company’s stock traded hands, compared to its average volume of 5,360,754. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a 12 month low of $71.12 and a 12 month high of $128.65. The stock has a market cap of $69.48 billion, a PE ratio of -9.85, a P/E/G ratio of 2.34 and a beta of 0.95. The stock has a 50-day simple moving average of $108.04 and a 200 day simple moving average of $100.52.

3M (NYSE:MMM) last released its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same period in the previous year, the company posted $2.17 EPS. As a group, research analysts predict that 3M will post 7.21 earnings per share for the current year.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares in the company, valued at approximately $541,659.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

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.