HF Advisory Group LLC Raises Position in 3M (NYSE:MMM)

HF Advisory Group LLC increased its holdings in 3M (NYSE:MMM) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,328 shares of the conglomerate’s stock after acquiring an additional 146 shares during the period. HF Advisory Group LLC’s holdings in 3M were worth $255,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of 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 worth $239,000 after buying an additional 93 shares during the period. 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 worth $1,182,000 after buying an additional 98 shares during the period. 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 worth $100,000 after buying an additional 98 shares during the period. 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 worth $1,575,000 after buying an additional 102 shares during the period. Finally, Bangor Savings Bank lifted its stake in 3M by 1.0% in the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock worth $1,147,000 after purchasing an additional 104 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

3M Stock Up 0.6 %

3M stock opened at $91.48 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The company’s 50-day moving average is $95.77 and its 200 day moving average is $97.22.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping 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 analyst estimates of $7.69 billion. During the same period in the prior year, the company posted $2.28 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts anticipate that 3M will post 8.79 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. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio is currently -47.82%.

Wall Street Analyst Weigh In

Several analysts have commented on MMM shares. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Mizuho reiterated a “neutral” rating and issued a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. Barclays decreased their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Wells Fargo & Company decreased 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 report on Wednesday, January 24th. Finally, Bank of America decreased their target price on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, 3M currently has an average rating of “Hold” and an average price target of $104.00.

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.