True Vision MN LLC Buys New Stake in 3M (NYSE:MMM)

True Vision MN LLC bought a new stake in 3M (NYSE:MMM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,015 shares of the conglomerate's stock, valued at approximately $512,000.

Other large investors also recently bought and sold shares of the company. Wealth Alliance raised its position in 3M by 18.2% during the second quarter. Wealth Alliance now owns 2,600 shares of the conglomerate's stock valued at $266,000 after purchasing an additional 401 shares during the period. Axxcess Wealth Management LLC raised its holdings in shares of 3M by 40.2% in the second quarter. Axxcess Wealth Management LLC now owns 8,866 shares of the conglomerate's stock worth $906,000 after buying an additional 2,542 shares during the period. Abbot Financial Management Inc. purchased a new stake in 3M in the second quarter worth $491,000. Perennial Investment Advisors LLC grew its holdings in shares of 3M by 3.3% in the second quarter. Perennial Investment Advisors LLC now owns 4,509 shares of the conglomerate's stock worth $461,000 after purchasing an additional 142 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its holdings in 3M by 59.9% during the 2nd quarter. Edgestream Partners L.P. now owns 29,997 shares of the conglomerate's stock valued at $3,065,000 after buying an additional 11,240 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

Insiders Place Their Bets

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company's stock, valued at $21,486,484.56. The transaction was disclosed in a filing with the SEC, which is available at this link. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

3M Stock Down 0.2 %

Shares of MMM stock traded down $0.21 during trading hours on Wednesday, reaching $133.36. 2,841,506 shares of the company's stock were exchanged, compared to its average volume of 5,097,398. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $135.28. The stock's 50 day moving average is $122.77 and its 200-day moving average is $107.13. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The company has a market cap of $73.80 billion, a price-to-earnings ratio of -10.50, a P/E/G ratio of 2.41 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the company posted $2.17 EPS. Analysts predict that 3M will post 7.22 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Monday, August 26th. 3M's dividend payout ratio (DPR) is presently -22.01%.

Analyst Ratings Changes

A number of analysts recently issued reports on MMM shares. Argus upgraded 3M from a "hold" rating to a "buy" rating and set a $145.00 price target for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded 3M from a "hold" rating to a "buy" rating and raised their price target for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Royal Bank of Canada upped their price objective on shares of 3M from $93.00 to $95.00 and gave the stock an "underperform" rating in a research note on Monday, July 29th. Morgan Stanley assumed coverage on shares of 3M in a research report on Friday, September 6th. They set an "underweight" rating and a $125.00 target price on the stock. Finally, StockNews.com cut shares of 3M from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $124.43.

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.