denkapparat Operations GmbH Makes New Investment in 3M (NYSE:MMM)

denkapparat Operations GmbH purchased a new position in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,772 shares of the conglomerate's stock, valued at approximately $487,000.

A number of other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of 3M during the third quarter worth about $329,000. Brooklyn Investment Group purchased a new stake in 3M during the 3rd quarter worth approximately $61,000. Avestar Capital LLC lifted its holdings in 3M by 10.0% during the 3rd quarter. Avestar Capital LLC now owns 2,787 shares of the conglomerate's stock worth $381,000 after buying an additional 254 shares in the last quarter. Freedom Investment Management Inc. boosted its position in 3M by 2.5% in the 3rd quarter. Freedom Investment Management Inc. now owns 9,498 shares of the conglomerate's stock valued at $1,298,000 after buying an additional 231 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in shares of 3M by 52.2% in the third quarter. CreativeOne Wealth LLC now owns 13,433 shares of the conglomerate's stock worth $1,836,000 after acquiring an additional 4,605 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MMM. Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday, March 22nd. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Barclays lifted 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. Finally, Royal Bank of Canada restated an "underperform" rating and issued a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, 3M presently has an average rating of "Moderate Buy" and an average target price of $149.13.

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Insiders Place Their Bets

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 value of $269,885.00. Following the transaction, the executive vice president now directly 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. In the last quarter, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is owned by insiders.

3M Stock Performance

3M stock traded down $3.70 during midday trading on Friday, hitting $144.74. 2,581,499 shares of the company's stock were exchanged, compared to its average volume of 4,133,279. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market cap of $78.58 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a 12-month low of $88.23 and a 12-month high of $156.35. The firm's 50 day simple moving average is $149.60 and its 200 day simple moving average is $138.23.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Friday, February 14th. 3M's payout ratio is currently 38.68%.

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.