ShankerValleau Wealth Advisors Inc. Makes New $212,000 Investment in 3M (NYSE:MMM)

ShankerValleau Wealth Advisors Inc. purchased a new stake in 3M (NYSE:MMMFree Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,551 shares of the conglomerate’s stock, valued at approximately $212,000. 3M makes up 0.1% of ShankerValleau Wealth Advisors Inc.’s investment portfolio, making the stock its 29th biggest holding.

Several other hedge funds have also recently modified their holdings of the business. Tributary Capital Management LLC bought a new position in 3M in the first quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of 3M during the 2nd quarter worth $28,000. Northwest Investment Counselors LLC purchased a new position in 3M in the first quarter valued at about $32,000. Finally, Meeder Asset Management Inc. grew its stake in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.2 %

MMM stock opened at $135.00 on Wednesday. The company has a market capitalization of $74.70 billion, a P/E ratio of -10.59, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95. 3M has a 12 month low of $71.12 and a 12 month high of $140.72. The firm’s fifty day simple moving average is $131.05 and its 200-day simple moving average is $110.91. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08.

3M (NYSE:MMMGet Free Report) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.25. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period last year, the business earned $2.17 earnings per share. As a group, equities research analysts forecast that 3M will post 7.22 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.07%. 3M’s dividend payout ratio (DPR) is currently -22.01%.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

MMM has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, July 29th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday. Bank of America boosted their target price on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Citigroup raised their price target on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $127.64.

Read Our Latest Report on 3M

3M Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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