Catalina Capital Group LLC Purchases 229 Shares of 3M (NYSE:MMM)

Catalina Capital Group LLC boosted its holdings in shares of 3M (NYSE:MMM) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,057 shares of the conglomerate’s stock after purchasing an additional 229 shares during the period. Catalina Capital Group LLC’s holdings in 3M were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. FMR LLC lifted its stake in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the period. International Assets Investment Management LLC lifted its position in shares of 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares during the period. Jennison Associates LLC purchased a new stake in shares of 3M in the 3rd quarter worth about $82,208,000. Parsifal Capital Management LP boosted its stake in shares of 3M by 179.0% during the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock valued at $112,107,000 after purchasing an additional 526,194 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in 3M by 39.1% in the third quarter. Bank of Montreal Can now owns 1,099,794 shares of the conglomerate’s stock worth $151,002,000 after buying an additional 308,912 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research note on Saturday. Finally, Bank of America raised their target price on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, 3M has an average rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Performance

Shares of NYSE MMM opened at $150.13 on Tuesday. The firm’s 50-day moving average price is $135.21 and its 200-day moving average price is $131.26. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The company has a market cap of $81.76 billion, a PE ratio of 19.89, a PEG ratio of 3.37 and a beta of 0.96. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 EPS. As a group, analysts anticipate that 3M will post 7.8 EPS for the current year.

Insider Buying and Selling at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.38% of the stock is owned by company insiders.

About 3M

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.