CapWealth Advisors LLC lifted its holdings in shares of 3M Co (NYSE:MMM) by 10.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,719 shares of the conglomerate’s stock after purchasing an additional 3,613 shares during the quarter. CapWealth Advisors LLC’s holdings in 3M were worth $7,617,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. Rainier Group Investment Advisory LLC acquired a new stake in 3M in the 1st quarter valued at approximately $114,000. Quattro Financial Advisors LLC bought a new position in 3M in the first quarter valued at approximately $119,000. Stelac Advisory Services LLC bought a new position in 3M in the first quarter valued at approximately $125,000. Avestar Capital LLC grew its stake in 3M by 161.2% in the second quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock valued at $130,000 after purchasing an additional 432 shares in the last quarter. Finally, Braun Bostich & Associates Inc. grew its stake in 3M by 221.7% in the second quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 481 shares in the last quarter. 66.93% of the stock is currently owned by institutional investors.

Shares of NYSE MMM opened at $213.51 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.56 and a debt-to-equity ratio of 1.08. 3M Co has a 12 month low of $190.57 and a 12 month high of $259.77. The company has a market cap of $126.90 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 2.07 and a beta of 1.16.

3M (NYSE:MMM) last issued its earnings results on Tuesday, July 24th. The conglomerate reported $2.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.01. 3M had a return on equity of 51.31% and a net margin of 13.44%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.36 billion. During the same period in the previous year, the company posted $2.58 EPS. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. research analysts expect that 3M Co will post 10.3 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Friday, August 24th were paid a dividend of $1.36 per share. The ex-dividend date was Thursday, August 23rd. This represents a $5.44 annualized dividend and a dividend yield of 2.55%. 3M’s dividend payout ratio is currently 59.32%.

In other news, insider Jon T. Lindekugel sold 6,410 shares of 3M stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $203.01, for a total transaction of $1,301,294.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric D. Hammes sold 1,272 shares of 3M stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $216.00, for a total value of $274,752.00. Following the transaction, the insider now owns 5,634 shares of the company’s stock, valued at $1,216,944. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

A number of research firms have weighed in on MMM. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. UBS Group raised their price target on 3M from $215.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 30th. Morgan Stanley began coverage on 3M in a research note on Monday, August 20th. They issued an “equal weight” rating and a $212.00 price target for the company. Barclays decreased their price target on 3M from $210.00 to $201.00 and set an “underweight” rating for the company in a research note on Wednesday, July 25th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $234.00 price target on shares of 3M in a research note on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $234.97.

3M Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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