3M (NYSE:MMM) Stock Holdings Lifted by Portside Wealth Group LLC

Portside Wealth Group LLC raised its position in 3M (NYSE:MMM) by 3.0% during the second quarter, HoldingsChannel.com reports. The firm owned 6,173 shares of the conglomerate’s stock after buying an additional 181 shares during the quarter. Portside Wealth Group LLC’s holdings in 3M were worth $631,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tributary Capital Management LLC purchased a new position in 3M in the first quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. boosted its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of 3M during the 1st quarter worth about $32,000. Livelsberger Financial Advisory bought a new stake in shares of 3M during the 4th quarter worth about $35,000. Finally, Cape Investment Advisory Inc. boosted its stake in shares of 3M by 42.8% during the 4th quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and upped their price target for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research note on Tuesday, July 30th. Barclays boosted their price objective on 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, 3M presently has a consensus rating of “Hold” and a consensus price target of $123.57.

Insider Activity

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares in the company, valued at approximately $21,486,484.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 value of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at $21,486,484.56. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M Stock Performance

3M stock traded down $0.11 during trading hours on Friday, hitting $127.05. The stock had a trading volume of 3,812,693 shares, compared to its average volume of 5,347,996. The company has a 50-day moving average of $109.69 and a two-hundred day moving average of $101.09. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The company has a market cap of $70.30 billion, a PE ratio of -9.99, a price-to-earnings-growth 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.

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

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. 3M’s dividend payout ratio is currently -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.