Sawtooth Solutions LLC Grows Stake in 3M (MMM)

Sawtooth Solutions LLC grew its position in 3M (NYSE:MMM) by 189.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,398 shares of the conglomerate’s stock after purchasing an additional 2,224 shares during the period. Sawtooth Solutions LLC’s holdings in 3M were worth $800,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. increased its stake in shares of 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after buying an additional 489 shares during the period. Horan Capital Management acquired a new stake in shares of 3M in the 4th quarter valued at $123,000. Virtue Capital Management LLC acquired a new stake in shares of 3M in the 4th quarter valued at $127,000. Sawyer & Company Inc acquired a new stake in shares of 3M in the 4th quarter valued at $138,000. Finally, Field & Main Bank acquired a new stake in shares of 3M in the 4th quarter valued at $140,000. 66.88% of the stock is owned by institutional investors.

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MMM stock opened at $212.25 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86. The stock has a market cap of $129,556.98, a price-to-earnings ratio of 23.15, a price-to-earnings-growth ratio of 2.02 and a beta of 1.14. 3M has a 1-year low of $188.62 and a 1-year high of $259.77.

3M (NYSE:MMM) last posted its earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.07. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.88 earnings per share. analysts predict that 3M will post 10.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a yield of 2.56%. 3M’s payout ratio is currently 59.32%.

Several research firms have recently commented on MMM. Stifel Nicolaus reissued a “hold” rating and issued a $225.00 target price (down from $251.00) on shares of 3M in a research note on Monday, April 2nd. Zacks Investment Research cut 3M from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Barclays lowered their target price on 3M from $235.00 to $230.00 and set an “underweight” rating for the company in a research note on Monday, March 26th. Citigroup set a $284.00 price objective on 3M and gave the stock a “buy” rating in a research note on Saturday, March 24th. Finally, ValuEngine cut 3M from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. 3M currently has a consensus rating of “Hold” and an average target price of $253.22.

In other 3M news, CFO Nicholas C. Gangestad sold 1,681 shares of 3M stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $249.76, for a total transaction of $419,846.56. Following the transaction, the chief financial officer now directly owns 23,562 shares in the company, valued at $5,884,845.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Inge G. Thulin sold 35,236 shares of 3M stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the transaction, the chairman now owns 253,873 shares in the company, valued at $63,757,665.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,806 shares of company stock worth $13,162,628. Corporate insiders own 0.58% of the company’s stock.

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3M Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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