Stonegate Investment Group LLC Buys 8,935 Shares of 3M (NYSE:MMM)

Stonegate Investment Group LLC grew its holdings in shares of 3M (NYSE:MMM - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,782 shares of the conglomerate's stock after acquiring an additional 8,935 shares during the quarter. Stonegate Investment Group LLC's holdings in 3M were worth $33,793,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MMM. Perigon Wealth Management LLC grew its stake in 3M by 5.2% in the 4th quarter. Perigon Wealth Management LLC now owns 30,842 shares of the conglomerate's stock worth $4,293,000 after buying an additional 1,526 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC bought a new stake in shares of 3M during the 4th quarter worth $219,000. Griffin Asset Management Inc. grew its position in 3M by 4.7% in the fourth quarter. Griffin Asset Management Inc. now owns 8,960 shares of the conglomerate's stock worth $1,157,000 after acquiring an additional 400 shares in the last quarter. Baldwin Wealth Partners LLC MA increased its stake in 3M by 2.9% in the fourth quarter. Baldwin Wealth Partners LLC MA now owns 6,348 shares of the conglomerate's stock valued at $819,000 after acquiring an additional 180 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in 3M by 792.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 37,432 shares of the conglomerate's stock valued at $4,832,000 after purchasing an additional 33,237 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Stock Performance

Shares of MMM traded down $0.18 during trading hours on Tuesday, hitting $151.34. The stock had a trading volume of 4,285,823 shares, compared to its average volume of 4,770,554. The firm has a market capitalization of $82.42 billion, a PE ratio of 20.05, a PEG ratio of 2.46 and a beta of 0.95. 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 $75.40 and a 12 month high of $152.96. The stock has a fifty day moving average price of $133.26 and a 200 day moving average price of $129.89.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the prior year, the firm earned $2.42 EPS. The business's revenue for the quarter was down 25.0% compared to the same quarter last year. 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. Shareholders of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.85%. 3M's payout ratio is presently 37.09%.

Analysts Set New Price Targets

MMM has been the subject of a number of research reports. Mizuho upped their price objective on 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. UBS Group raised 3M from a "neutral" rating to a "buy" rating and upped their target price for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of 3M in a report on Saturday, January 18th. Finally, Melius Research raised shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.87.

Insider Transactions at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,903 shares of company stock worth $8,082,186 in the last 90 days. 0.34% of the stock is currently owned by insiders.

3M 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.