Summit Trail Advisors LLC Has $872,000 Position in 3M (NYSE:MMM)

Summit Trail Advisors LLC boosted its position in shares of 3M (NYSE:MMM - Free Report) by 58.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,753 shares of the conglomerate's stock after purchasing an additional 2,482 shares during the period. Summit Trail Advisors LLC's holdings in 3M were worth $872,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MMM. State Street Corp raised its stake in shares of 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock worth $3,717,503,000 after acquiring an additional 302,900 shares during the last quarter. FMR LLC raised its stake in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 3M by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate's stock worth $521,596,000 after buying an additional 43,942 shares during the last quarter. National Pension Service raised its stake in shares of 3M by 14.5% during the third 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 last quarter. Finally, International Assets Investment Management LLC raised 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 worth $172,416,000 after buying an additional 1,250,491 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent research reports. Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Barclays boosted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Melius Research raised 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. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of 3M in a report on Saturday, February 1st. Two investment 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $148.87.

Insider Transactions at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the company's 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 sale, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

3M Stock Down 0.0 %

Shares of MMM stock traded down $0.07 during trading on Friday, reaching $148.65. The company's stock had a trading volume of 2,388,343 shares, compared to its average volume of 4,440,606. The business has a fifty day moving average price of $138.80 and a 200-day moving average price of $133.79. 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 company has a market cap 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. 3M has a one year low of $75.40 and a one year high of $155.00.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm's revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's 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.