Telos Capital Management Inc. Purchases 3,906 Shares of 3M (NYSE:MMM)

Telos Capital Management Inc. lifted its position in 3M (NYSE:MMM) by 133.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,838 shares of the conglomerate’s stock after acquiring an additional 3,906 shares during the period. Telos Capital Management Inc.’s holdings in 3M were worth $748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new position in 3M during the fourth quarter valued at approximately $159,000. Tyche Wealth Partners LLC bought a new position in 3M during the fourth quarter valued at approximately $723,000. Allen Capital Group LLC lifted its position in 3M by 0.5% during the fourth quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after purchasing an additional 105 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in 3M by 3.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 376,492 shares of the conglomerate’s stock valued at $41,158,000 after purchasing an additional 11,107 shares during the period. Finally, Eagle Bluffs Wealth Management LLC lifted its position in 3M by 2.0% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 12,635 shares of the conglomerate’s stock valued at $1,381,000 after purchasing an additional 246 shares during the period. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

MMM has been the topic of a number of research analyst reports. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada lowered their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. Mizuho restated 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. reduced their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company reduced their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, 3M has an average rating of “Hold” and a consensus price target of $104.00.

Insider Transactions at 3M

In other 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 completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company’s stock.

3M Stock Performance

Shares of NYSE MMM opened at $90.95 on Thursday. The firm has a fifty day moving average price of $95.81 and a 200-day moving average price of $97.26. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The stock has a market cap of $50.33 billion, a PE ratio of -7.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. 3M has a 1 year low of $71.12 and a 1 year high of $95.67.

3M (NYSE:MMM) last announced its quarterly earnings data 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 firm 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 company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.28 earnings per share. Equities analysts anticipate that 3M will post 8.79 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.64%. 3M’s dividend payout ratio is -47.82%.

About 3M

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.