Town & Country Bank & Trust CO dba First Bankers Trust CO Increases Stock Position in 3M (NYSE:MMM)

Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in shares of 3M (NYSE:MMM) by 20.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,110 shares of the conglomerate’s stock after purchasing an additional 1,017 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO’s holdings in 3M were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMM. Ridgecrest Wealth Partners LLC purchased a new position in shares of 3M in the 1st quarter worth $214,000. Romano Brothers AND Company boosted its position in 3M by 10.6% in the first quarter. Romano Brothers AND Company now owns 22,911 shares of the conglomerate’s stock worth $2,430,000 after purchasing an additional 2,200 shares during the last quarter. Grimes & Company Inc. grew its stake in shares of 3M by 3.5% during the 1st quarter. Grimes & Company Inc. now owns 8,945 shares of the conglomerate’s stock valued at $949,000 after purchasing an additional 301 shares during the period. MCF Advisors LLC increased its position in shares of 3M by 7.2% during the 1st quarter. MCF Advisors LLC now owns 5,133 shares of the conglomerate’s stock valued at $544,000 after purchasing an additional 346 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in shares of 3M by 19.5% in the 1st quarter. Toth Financial Advisory Corp now owns 25,846 shares of the conglomerate’s stock worth $2,741,000 after purchasing an additional 4,219 shares during the period. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MMM shares. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $111.00 in a research report on Wednesday, May 1st. UBS Group upped their price objective on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Mizuho reiterated a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. Bank of America raised 3M from a “neutral” rating to a “buy” rating and boosted their price target for the company from $105.00 to $120.00 in a report on Friday, June 7th. Finally, Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $111.58.

3M Stock Down 0.9 %

MMM stock traded down $0.98 during midday trading on Friday, hitting $102.19. The company’s stock had a trading volume of 6,196,466 shares, compared to its average volume of 4,668,111. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. 3M has a 12 month low of $71.12 and a 12 month high of $106.04. The company has a 50 day moving average of $99.23 and a two-hundred day moving average of $99.26.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the prior year, the business earned $1.97 earnings per share. Equities research analysts predict that 3M will post 7.17 EPS for the current year.

3M Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a $0.70 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.74%. 3M’s dividend payout ratio (DPR) is -22.01%.

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.