Wintrust Investments LLC Boosts Stock Position in 3M (NYSE:MMM)

Wintrust Investments LLC boosted its holdings in shares of 3M (NYSE:MMM) by 12.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,058 shares of the conglomerate’s stock after acquiring an additional 1,124 shares during the quarter. Wintrust Investments LLC’s holdings in 3M were worth $1,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Newton One Investments LLC purchased a new stake in shares of 3M in the 2nd quarter worth $37,000. Anfield Capital Management LLC purchased a new stake in shares of 3M in the 2nd quarter worth $37,000. Lake Point Wealth Management purchased a new stake in shares of 3M in the 2nd quarter worth $38,000. Smith Asset Management Group LP purchased a new stake in shares of 3M in the 2nd quarter worth $40,000. Finally, tru Independence LLC purchased a new stake in shares of 3M in the 2nd quarter worth $46,000. Institutional investors own 66.82% of the company’s stock.

Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a report on Friday, August 6th. Deutsche Bank Aktiengesellschaft upped their price objective on 3M from $196.00 to $201.00 and gave the stock a “hold” rating in a research note on Wednesday, July 28th. Argus upped their price objective on 3M from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 28th. They noted that the move was a valuation call. Credit Suisse Group cut 3M from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $210.00 to $212.00 in a research note on Tuesday, July 6th. Finally, Wolfe Research cut 3M from a “peer perform” rating to an “underperform” rating and decreased their price objective for the stock from $218.00 to $215.00 in a research note on Monday, July 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $198.92.

Shares of MMM stock traded up $1.34 during mid-day trading on Wednesday, reaching $183.76. The stock had a trading volume of 46,321 shares, compared to its average volume of 2,424,369. The business’s fifty day moving average is $196.65 and its 200-day moving average is $196.42. The company has a current ratio of 1.73, a quick ratio of 1.22 and a debt-to-equity ratio of 1.12. The firm has a market cap of $106.33 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.92 and a beta of 0.96. 3M has a 1-year low of $156.13 and a 1-year high of $208.95.

3M (NYSE:MMM) last posted its earnings results on Monday, July 26th. The conglomerate reported $2.59 EPS for the quarter, topping the consensus estimate of $2.28 by $0.31. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.59 billion. 3M had a return on equity of 44.72% and a net margin of 17.13%. 3M’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. On average, analysts forecast that 3M will post 10.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 12th. Shareholders of record on Monday, August 23rd were given a dividend of $1.48 per share. The ex-dividend date was Friday, August 20th. This represents a $5.92 dividend on an annualized basis and a yield of 3.22%. 3M’s dividend payout ratio is currently 67.73%.

In related news, insider Jeffrey R. Lavers sold 6,025 shares of the stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $200.00, for a total value of $1,205,000.00. Following the completion of the sale, the insider now owns 10,973 shares of the company’s stock, valued at $2,194,600. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Denise R. Rutherford sold 3,135 shares of the firm’s stock in a transaction on Monday, August 2nd. The stock was sold at an average price of $198.17, for a total value of $621,262.95. The disclosure for this sale can be found here. Insiders have sold 20,666 shares of company stock worth $4,103,569 in the last quarter. 0.34% of the stock is currently owned by company insiders.

About 3M

3M Co is a technology company, which manufactures industrial, safety and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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

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