2,438 Shares in 3M (NYSE:MMM) Acquired by Campbell Wealth Management

Campbell Wealth Management purchased a new position in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,438 shares of the conglomerate's stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also made changes to their positions in MMM. State Street Corp raised its position in shares of 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock worth $3,717,503,000 after buying an additional 302,900 shares during the period. FMR LLC raised its holdings in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock valued at $1,225,087,000 after buying an additional 4,212,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 3M by 1.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate's stock valued at $521,596,000 after purchasing an additional 43,942 shares in the last quarter. National Pension Service increased its stake in 3M by 14.5% during the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate's stock worth $173,336,000 after buying an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of 3M by 11,601.2% during the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate's stock valued at $172,416,000 after acquiring an additional 1,250,491 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on MMM shares. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $140.00 to $170.00 in a research note 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 on the stock in a research report on Tuesday, October 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of 3M in a report on Saturday, February 1st. Melius raised 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.

Insiders Place Their Bets

In other news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares of the company's stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction dated 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 directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock valued at $17,163,446. Company insiders own 0.34% of the company's stock.

3M Stock Performance

MMM stock traded down $0.07 during midday trading on Monday, hitting $148.65. 2,388,343 shares of the company traded hands, compared to its average volume of 4,440,606. 3M has a twelve month low of $75.40 and a twelve month high of $155.00. The stock has a market capitalization of $80.70 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth 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. The business has a 50 day simple moving average of $138.80 and a 200-day simple moving average of $133.88.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, February 14th. 3M's payout ratio is currently 37.09%.

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.