Hutchens & Kramer Investment Management Group LLC Takes Position in 3M (NYSE:MMM)

Hutchens & Kramer Investment Management Group LLC acquired a new stake in 3M (NYSE:MMM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,700 shares of the conglomerate's stock, valued at approximately $219,000.

Several other hedge funds have also added to or reduced their stakes in MMM. FSA Wealth Management LLC acquired a new stake in shares of 3M during the third quarter worth $27,000. McClarren Financial Advisors Inc. raised its position in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC boosted its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in 3M during the third quarter worth approximately $57,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 45,276 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the transaction, the chairman now owns 175,718 shares in the company, valued at approximately $26,359,457.18. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the sale, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,903 shares of company stock worth $8,082,186. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. UBS Group upgraded shares of 3M from a "neutral" rating to a "buy" rating and boosted their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Mizuho raised 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. Bank of America upped their price objective on shares of 3M from $160.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada restated an "underperform" rating and issued a $96.00 target price on shares of 3M in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.87.

3M Stock Down 0.1 %

MMM traded down $0.18 during mid-day trading on Tuesday, reaching $151.34. 4,285,823 shares of the stock were exchanged, compared to its average volume of 4,770,554. The company has a 50 day moving average price of $133.26 and a two-hundred day moving average price of $129.89. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 1 year low of $75.40 and a 1 year high of $152.96.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data 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. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the firm posted $2.42 EPS. The firm's quarterly revenue was down 25.0% compared to the same quarter last year. As a group, research analysts anticipate that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, November 15th. 3M's payout ratio is 37.09%.

3M Company 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.