44,683 Shares in 3M (NYSE:MMM) Bought by Oliver Luxxe Assets LLC

Oliver Luxxe Assets LLC bought a new position in shares of 3M (NYSE:MMM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 44,683 shares of the conglomerate’s stock, valued at approximately $6,108,000. 3M comprises approximately 1.1% of Oliver Luxxe Assets LLC’s investment portfolio, making the stock its 28th largest holding.

Other large investors have also bought and sold shares of the company. Tributary Capital Management LLC bought a new position in 3M during the 1st quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its position in shares of 3M by 419.1% in 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. MFA Wealth Advisors LLC bought a new position in shares of 3M in the 2nd quarter worth about $28,000. Northwest Investment Counselors LLC bought a new position in shares of 3M in the 1st quarter worth about $32,000. Finally, Meeder Asset Management Inc. raised its position in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Bank of America lifted their price objective on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Morgan Stanley started coverage on 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. Finally, StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $127.64.

Insider Buying and Selling at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

3M Trading Up 1.0 %

Shares of MMM stock opened at $134.75 on Monday. The company’s fifty day simple moving average is $131.53 and its two-hundred day simple moving average is $111.55. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a 1 year low of $71.12 and a 1 year high of $140.72. The stock has a market capitalization of $74.57 billion, a price-to-earnings ratio of -10.59, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last issued its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm posted $2.17 EPS. As a group, analysts anticipate that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. 3M’s payout ratio 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.