Uncommon Cents Investing LLC Purchases 2,135 Shares of 3M (NYSE:MMM)

Uncommon Cents Investing LLC boosted its position in shares of 3M (NYSE:MMM) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,584 shares of the conglomerate’s stock after purchasing an additional 2,135 shares during the period. Uncommon Cents Investing LLC’s holdings in 3M were worth $2,141,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MMM. Fragasso Group Inc. boosted its holdings in 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after purchasing an additional 93 shares during the last quarter. Orion Portfolio Solutions LLC boosted its holdings in 3M by 1.2% in the 1st quarter. Orion Portfolio Solutions LLC now owns 7,941 shares of the conglomerate’s stock valued at $1,182,000 after purchasing an additional 98 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in 3M by 13.3% in the 4th quarter. McIlrath & Eck LLC now owns 836 shares of the conglomerate’s stock valued at $100,000 after purchasing an additional 98 shares during the last quarter. Vestcor Inc boosted its holdings in 3M by 0.8% in the 4th quarter. Vestcor Inc now owns 13,133 shares of the conglomerate’s stock valued at $1,575,000 after purchasing an additional 102 shares during the last quarter. Finally, Bollard Group LLC lifted its holdings in shares of 3M by 2.0% in the 2nd quarter. Bollard Group LLC now owns 5,191 shares of the conglomerate’s stock worth $520,000 after acquiring an additional 103 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup decreased their price objective on shares of 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada restated an “underperform” rating and issued a $84.00 price objective on shares of 3M in a report on Wednesday, March 20th. Barclays upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $111.00 to $126.00 in a report on Tuesday, March 19th. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price on shares of 3M in a research note on Wednesday. Finally, Wells Fargo & Company cut their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Hold” and an average target price of $107.60.

3M Trading Up 1.4 %

Shares of NYSE:MMM opened at $106.05 on Friday. 3M has a 52 week low of $85.35 and a 52 week high of $113.14. The company’s 50 day moving average is $96.86 and its two-hundred day moving average is $97.78. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The company has a market cap of $58.61 billion, a PE ratio of -8.40, a P/E/G ratio of 1.48 and a beta of 1.00.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period in the prior year, the firm posted $2.28 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Equities analysts predict that 3M will post 9.77 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 5.70%. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is -47.82%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the 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 directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.