Yeomans Consulting Group Inc. Purchases Shares of 3,642 3M (NYSE:MMM)

Yeomans Consulting Group Inc. bought a new stake in 3M (NYSE:MMM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,642 shares of the conglomerate’s stock, valued at approximately $498,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MMM. Stonegate Investment Group LLC raised its position in 3M by 5.6% in the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after purchasing an additional 13,473 shares during the period. Ausdal Financial Partners Inc. lifted its position in 3M by 6.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after acquiring an additional 249 shares in the last quarter. Candriam S.C.A. boosted its holdings in 3M by 19.2% in the 2nd quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock worth $3,931,000 after acquiring an additional 6,185 shares during the period. True Vision MN LLC acquired a new stake in 3M in the second quarter valued at approximately $512,000. Finally, Ballentine Partners LLC raised its stake in shares of 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the subject of several analyst reports. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, July 30th. Wells Fargo & Company raised their target price on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada lifted their target price on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 23rd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Bank of America lifted their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $139.27.

3M Stock Performance

Shares of NYSE MMM traded up $5.71 during midday trading on Monday, hitting $130.46. The company’s stock had a trading volume of 1,930,869 shares, compared to its average volume of 4,933,760. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a 1-year low of $73.15 and a 1-year high of $141.34. The firm’s fifty day moving average price is $133.00 and its 200-day moving average price is $114.18. The firm has a market cap of $72.19 billion, a P/E ratio of -10.11, a P/E/G ratio of 2.42 and a beta of 0.95.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue was down 24.3% on a year-over-year basis. During the same quarter last year, the company posted $2.68 earnings per share. On average, sell-side analysts forecast that 3M will post 7.26 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a dividend of $0.70 per share. The ex-dividend date was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. 3M’s payout ratio is currently -22.01%.

Insiders Place Their Bets

In related news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction dated Tuesday, August 6th. The shares were 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 $541,659.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Theresa E. Reinseth sold 2,100 shares of the 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 completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of 3M 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 sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate 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.