Hutchens & Kramer Investment Management Group LLC Makes New $219,000 Investment in 3M (NYSE:MMM)

Hutchens & Kramer Investment Management Group LLC bought a new position in 3M (NYSE:MMM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,700 shares of the conglomerate’s stock, valued at approximately $219,000.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after acquiring an additional 1,250,491 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of 3M during the 3rd quarter valued at about $82,208,000. Parsifal Capital Management LP boosted its position in shares of 3M by 179.0% during the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock valued at $112,107,000 after acquiring an additional 526,194 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of 3M by 39.1% during the 3rd quarter. Bank of Montreal Can now owns 1,099,794 shares of the conglomerate’s stock valued at $151,002,000 after acquiring an additional 308,912 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

MMM opened at $151.44 on Tuesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $75.40 and a 52-week high of $152.08. The stock has a market capitalization of $82.47 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The stock’s 50 day moving average price is $132.83 and its 200-day moving average price is $129.55.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same period in the previous year, the firm earned $2.42 earnings per share. The business’s revenue was down 25.0% compared to the same quarter last year. On average, equities research analysts predict that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

Insider Activity

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 45,276 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $150.01, for a total value of $6,791,852.76. Following the sale, the chairman now owns 175,718 shares in the company, valued at $26,359,457.18. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,903 shares of company stock valued at $8,082,186. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays raised their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Finally, Bank of America raised their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

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.