Socha Financial Group LLC Acquires Shares of 1,913 3M (NYSE:MMM)

Socha Financial Group LLC bought a new position in shares of 3M (NYSE:MMM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,913 shares of the conglomerate’s stock, valued at approximately $209,000. 3M accounts for about 0.1% of Socha Financial Group LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other large investors also recently modified their holdings of the company. Briaud Financial Planning Inc acquired a new position in 3M during the third quarter worth $35,000. Authentikos Wealth Advisory LLC bought a new position in 3M in the 3rd quarter valued at about $37,000. CGC Financial Services LLC lifted its position in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC boosted its stake in 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the last quarter. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in 3M during the 3rd quarter worth approximately $44,000. 65.25% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

3M Stock Performance

Shares of MMM stock traded up $0.38 on Tuesday, hitting $93.00. 3,706,847 shares of the stock were exchanged, compared to its average volume of 5,803,995. The firm’s 50 day moving average is $95.72 and its two-hundred day moving average is $97.40. 3M has a one year low of $71.12 and a one year high of $95.67. The firm has a market capitalization of $51.46 billion, a PE ratio of -7.36, a P/E/G ratio of 1.63 and a beta of 1.02. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

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

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.49%. 3M’s payout ratio is presently -47.82%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Royal Bank of Canada cut their target price on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Citigroup boosted their price target on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company decreased 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 note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.00.

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.