Impact Capital Partners LLC Makes New $275,000 Investment in 3M (NYSE:MMM)

Impact Capital Partners LLC bought a new stake in shares of 3M (NYSE:MMM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,127 shares of the conglomerate's stock, valued at approximately $275,000.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings 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 purchasing an additional 302,900 shares during the period. FMR LLC increased its holdings in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of 3M by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock worth $734,456,000 after purchasing an additional 479,621 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 3M by 1.2% in 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 purchasing an additional 43,942 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 3M by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate's stock worth $461,761,000 after purchasing an additional 17,228 shares during the period. Institutional investors own 65.25% of the company's stock.

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3M Trading Up 1.5 %

NYSE MMM traded up $2.28 during trading on Wednesday, hitting $153.20. 2,344,068 shares of the company's stock traded hands, compared to its average volume of 4,249,633. The stock has a fifty day moving average of $147.25 and a two-hundred day moving average of $137.15. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 12-month low of $85.33 and a 12-month high of $156.35. The firm has a market cap of $83.17 billion, a P/E ratio of 20.29, a PEG ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion during 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 company's revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 earnings per share. As a group, sell-side analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. The ex-dividend date was Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.91%. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Buying and Selling

In related news, 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 value of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction dated 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 in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 over the last ninety days. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MMM. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Friday, March 7th. 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 report on Wednesday, January 22nd. Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada reiterated an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. Finally, Citigroup upped their target price on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, 3M has an average rating of "Moderate Buy" and a consensus price target of $149.13.

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.