ORG Partners LLC Invests $361,000 in 3M (NYSE:MMM)

ORG Partners LLC bought a new position in shares of 3M (NYSE:MMM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,584 shares of the conglomerate’s stock, valued at approximately $361,000.

A number of other large investors have also modified their holdings of MMM. Norges Bank purchased a new stake in shares of 3M during the fourth quarter worth $502,585,000. Balyasny Asset Management L.P. boosted its position in shares of 3M by 313.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock valued at $289,803,000 after acquiring an additional 2,010,319 shares during the last quarter. Capital World Investors acquired a new position in shares of 3M during the 1st quarter valued at about $165,986,000. Los Angeles Capital Management LLC boosted its position in shares of 3M by 157.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock valued at $197,377,000 after acquiring an additional 1,103,459 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of 3M by 218.3% during the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after acquiring an additional 1,021,440 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MMM. Vertical Research raised shares of 3M from a “hold” rating to a “buy” rating and boosted their price target for the company from $92.00 to $140.00 in a research report on Thursday, May 16th. UBS Group boosted their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their price target on shares of 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Barclays upped their target price on shares of 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Citigroup upped their target price on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, 3M currently has an average rating of “Hold” and a consensus target price of $123.57.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 in the company, valued at $21,486,484.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were 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 in the company, valued at $21,486,484.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

3M Stock Up 0.7 %

Shares of MMM traded up $0.82 during mid-day trading on Wednesday, hitting $126.17. 3,252,561 shares of the company’s stock were exchanged, compared to its average volume of 5,370,581. The company has a market cap of $69.82 billion, a price-to-earnings ratio of -9.85, a P/E/G ratio of 2.34 and a beta of 0.95. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $128.65. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. The stock’s 50-day moving average is $108.04 and its 200-day moving average is $100.52.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The business had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the company earned $2.17 earnings per share. On average, sell-side analysts anticipate that 3M will post 7.21 earnings per share for the current fiscal year.

3M Company 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.