Western Financial Corp CA Acquires Shares of 10,122 3M (NYSE:MMM)

Western Financial Corp CA bought a new position in shares of 3M (NYSE:MMM - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,122 shares of the conglomerate's stock, valued at approximately $1,384,000.

A number of other institutional investors also recently bought and sold shares of MMM. Tributary Capital Management LLC purchased a new stake in 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate's stock worth $26,000 after acquiring an additional 197 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of 3M in the second quarter worth $28,000. Daymark Wealth Partners LLC raised its holdings in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after acquiring an additional 17,211 shares during the last quarter. Finally, McClarren Financial Advisors Inc. raised its holdings in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was 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 $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the company's stock in a transaction dated Tuesday, August 6th. The stock was 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 $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the firm's stock in a transaction that occurred 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 sale, the chairman now owns 174,036 shares of the company's stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

3M Trading Down 0.2 %

NYSE:MMM traded down $0.31 on Monday, hitting $134.83. 5,935,946 shares of the stock were exchanged, compared to its average volume of 4,898,791. The stock has a market cap of $74.61 billion, a PE ratio of -10.62, a PEG ratio of 2.49 and a beta of 0.95. 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 stock has a fifty day moving average of $132.67 and a 200-day moving average of $112.87. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $140.72.

3M (NYSE:MMM - Get Free Report) last announced 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. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. During the same period in the prior year, the firm posted $2.17 earnings per share. As a group, equities analysts expect that 3M will post 7.24 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, August 26th. 3M's payout ratio is -22.01%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Argus raised 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. StockNews.com cut 3M from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Morgan Stanley started coverage on 3M in a report on Friday, September 6th. They issued an "underweight" rating and a $125.00 price target for the company. Citigroup upped their target price on 3M from $100.00 to $133.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada upped their target price on 3M from $93.00 to $95.00 and gave the company an "underperform" rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, 3M currently has an average rating of "Hold" and an average target price 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.