Apexium Financial LP Purchases New Holdings in 3M (NYSE:MMM)

Apexium Financial LP acquired a new stake in 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,788 shares of the conglomerate's stock, valued at approximately $231,000.

A number of other hedge funds also recently modified their holdings of the stock. Blue Trust Inc. increased its position in 3M by 2.5% during the 4th quarter. Blue Trust Inc. now owns 33,320 shares of the conglomerate's stock worth $4,555,000 after buying an additional 797 shares during the period. PFG Investments LLC grew its stake in shares of 3M by 2.8% in the fourth quarter. PFG Investments LLC now owns 15,248 shares of the conglomerate's stock valued at $1,968,000 after acquiring an additional 422 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd increased its position in 3M by 3,347.8% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 3,965 shares of the conglomerate's stock worth $512,000 after acquiring an additional 3,850 shares during the period. Grimes & Company Inc. raised its stake in 3M by 1.4% in the 4th quarter. Grimes & Company Inc. now owns 9,148 shares of the conglomerate's stock worth $1,181,000 after purchasing an additional 125 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in 3M by 24.4% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,304 shares of the conglomerate's stock valued at $168,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MMM shares. Bank of America lifted their price target on shares of 3M from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and upped their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Finally, Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now directly owns 5,153 shares of the company's stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 62,291 shares of company stock worth $9,339,786 in the last quarter. Company insiders own 0.34% of the company's stock.

3M Trading Down 0.1 %

Shares of MMM stock traded down $0.18 during trading hours on Tuesday, hitting $151.34. 4,285,823 shares of the company's stock traded hands, compared to its average volume of 4,770,554. 3M has a 12 month low of $75.40 and a 12 month high of $152.96. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock's 50 day simple moving average is $133.26 and its 200 day simple moving average is $129.89. The stock has a market cap of $82.42 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the business posted $2.42 EPS. The business's revenue was down 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.85%. 3M's dividend payout ratio is currently 37.09%.

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.