3M Company (NYSE:MMM) Shares Purchased by Tradewinds LLC.

Tradewinds LLC. boosted its position in 3M Company (NYSE:MMM) by 5.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,571 shares of the conglomerate’s stock after purchasing an additional 137 shares during the period. Tradewinds LLC.’s holdings in 3M were worth $378,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock valued at $1,149,000 after acquiring an additional 1,872 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of 3M during the 4th quarter valued at $26,000. Assetmark Inc. lifted its position in shares of 3M by 80.2% during the 4th quarter. Assetmark Inc. now owns 1,173 shares of the conglomerate’s stock valued at $151,000 after acquiring an additional 522 shares during the last quarter. Aigen Investment Management LP acquired a new stake in 3M during the 4th quarter valued at $437,000. Finally, Raymond James Financial Inc. acquired a new stake in 3M during the 4th quarter valued at $103,788,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

NYSE MMM opened at $152.23 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $81.92 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. The company has a 50 day moving average price of $146.63 and a two-hundred day moving average price of $143.70. 3M Company has a 12-month low of $98.26 and a 12-month high of $156.35.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. As a group, equities analysts predict that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.92%. 3M’s payout ratio is 36.87%.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company’s stock, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president directly owned 31,372 shares in the company, valued at $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MMM. Royal Bank Of Canada boosted their target price on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, April 23rd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Friday, June 27th. Citigroup boosted their target price on shares of 3M from $141.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Finally, Wells Fargo & Company boosted their target price on shares of 3M from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $155.83.

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.