3M (NYSE:MMM) Stock Holdings Lifted by Stonegate Investment Group LLC

Stonegate Investment Group LLC boosted its position in 3M (NYSE:MMM - Free Report) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 252,847 shares of the conglomerate's stock after purchasing an additional 13,473 shares during the period. Stonegate Investment Group LLC's holdings in 3M were worth $34,564,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MMM. Tributary Capital Management LLC purchased a new position in shares of 3M in the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. lifted its position in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 197 shares during the period. MFA Wealth Advisors LLC purchased a new stake in shares of 3M during the 2nd quarter worth approximately $28,000. Northwest Investment Counselors LLC acquired a new stake in shares of 3M in the 1st quarter worth approximately $32,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after acquiring an additional 269 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Activity

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company's stock, valued at $541,659.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares of the company's stock, valued at approximately $541,659.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

3M Stock Down 0.4 %

NYSE:MMM traded down $0.54 during mid-day trading on Friday, hitting $135.14. The company had a trading volume of 2,791,363 shares, compared to its average volume of 4,893,641. The business has a fifty day simple moving average of $132.67 and a 200-day simple moving average of $112.59. The firm has a market capitalization of $74.78 billion, a price-to-earnings ratio of -10.62, a PEG ratio of 2.49 and a beta of 0.95. 3M has a 1 year low of $71.12 and a 1 year high of $140.72. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping the consensus estimate of $1.68 by $0.25. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period in the previous year, the company posted $2.17 EPS. Equities analysts forecast that 3M will post 7.24 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 dividend on an annualized basis and a yield of 2.07%. 3M's payout ratio is currently -22.01%.

Analysts Set New Price Targets

MMM has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. StockNews.com cut shares of 3M from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Barclays increased their price target on shares of 3M from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upgraded 3M from a "hold" rating to a "buy" rating and increased their target price for the company from $110.00 to $150.00 in a report on Monday, July 29th. Finally, Citigroup raised their price target on 3M from $100.00 to $133.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, 3M presently has a consensus rating of "Hold" and a consensus price target of $130.57.

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.