Claraphi Advisory Network LLC bought a new stake in 3M Co (NYSE:MMM) in the 4th quarter, HoldingsChannel reports. The fund bought 1,059 shares of the conglomerate’s stock, valued at approximately $249,000.
A number of other large investors have also recently modified their holdings of MMM. Lenox Wealth Advisors Inc. increased its stake in 3M by 16,300.0% in the fourth quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 489 shares in the last quarter. Horan Capital Management bought a new stake in 3M in the fourth quarter valued at approximately $123,000. Hoertkorn Richard Charles bought a new stake in 3M in the third quarter valued at approximately $126,000. Sawyer & Company Inc bought a new stake in 3M in the fourth quarter valued at approximately $138,000. Finally, Field & Main Bank bought a new stake in 3M in the fourth quarter valued at approximately $140,000. 66.09% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Michael F. Roman sold 4,146 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the completion of the transaction, the executive vice president now owns 16,208 shares in the company, valued at $3,997,703.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hak Cheol Shin sold 8,385 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $247.20, for a total transaction of $2,072,772.00. Following the transaction, the insider now owns 120,105 shares of the company’s stock, valued at approximately $29,689,956. The disclosure for this sale can be found here. Insiders have sold 49,673 shares of company stock valued at $12,420,577 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $290.00 target price for the company in a research note on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $254.00 target price on shares of 3M in a research note on Thursday, January 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $221.00 target price (up previously from $208.00) on shares of 3M in a research note on Thursday, January 18th. UBS Group assumed coverage on shares of 3M in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $262.00 target price for the company. Finally, Hilliard Lyons raised shares of 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a research note on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $254.25.
Shares of 3M Co (MMM) opened at $236.67 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. 3M Co has a 12-month low of $182.04 and a 12-month high of $259.77. The stock has a market cap of $140,940.00, a price-to-earnings ratio of 25.81, a PEG ratio of 2.18 and a beta of 1.08.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The company had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. research analysts expect that 3M Co will post 10.59 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a dividend of $1.36 per share. This is a boost from 3M’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, February 15th. This represents a $5.44 annualized dividend and a yield of 2.30%. 3M’s dividend payout ratio is presently 59.32%.
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3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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