3M (NYSE:MMM) Shares Bought by Xponance Inc.

Xponance Inc. boosted its stake in shares of 3M (NYSE:MMM) by 4.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 72,770 shares of the conglomerate’s stock after acquiring an additional 3,132 shares during the period. Xponance Inc.’s holdings in 3M were worth $7,955,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Financial Freedom LLC acquired a new stake in shares of 3M in the fourth quarter valued at about $25,000. CGC Financial Services LLC raised its position in shares of 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares during the last quarter. Briaud Financial Planning Inc acquired a new stake in shares of 3M in the third quarter valued at about $35,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of 3M in the third quarter valued at about $37,000. Finally, VisionPoint Advisory Group LLC raised its position in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after buying an additional 215 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MMM shares. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. Citigroup raised their price objective on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays cut their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company cut their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.00.

Insider Activity

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

3M Trading Up 1.0 %

NYSE MMM opened at $92.35 on Friday. The firm has a 50 day simple moving average of $95.76 and a 200-day simple moving average of $97.24. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. 3M has a one year low of $71.12 and a one year high of $95.67.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the firm posted $2.28 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts forecast that 3M will post 8.79 earnings per share for the current year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.51 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.54%. 3M’s dividend payout ratio (DPR) is presently -47.82%.

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.