F M Investments LLC Makes New $207,000 Investment in 3M (NYSE:MMM)

F M Investments LLC acquired a new position in 3M (NYSE:MMM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,895 shares of the conglomerate’s stock, valued at approximately $207,000.

Several other hedge funds have also bought and sold shares of MMM. Trilogy Capital Inc. boosted its position in 3M by 11.8% in the 3rd quarter. Trilogy Capital Inc. now owns 24,404 shares of the conglomerate’s stock worth $2,285,000 after purchasing an additional 2,583 shares in the last quarter. Ziegler Capital Management LLC lifted its position in shares of 3M by 2.6% during the 3rd quarter. Ziegler Capital Management LLC now owns 19,626 shares of the conglomerate’s stock valued at $1,837,000 after buying an additional 491 shares in the last quarter. Advisors Management Group Inc. ADV grew its stake in 3M by 4.5% in the 3rd quarter. Advisors Management Group Inc. ADV now owns 12,373 shares of the conglomerate’s stock valued at $1,158,000 after acquiring an additional 531 shares during the period. Riverview Trust Co increased its holdings in 3M by 81.4% in the 3rd quarter. Riverview Trust Co now owns 1,585 shares of the conglomerate’s stock worth $148,000 after acquiring an additional 711 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its position in 3M by 265,023.1% during the third quarter. Exchange Traded Concepts LLC now owns 68,932 shares of the conglomerate’s stock worth $6,453,000 after acquiring an additional 68,906 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 0.4 %

Shares of MMM traded up $0.38 during midday trading on Tuesday, reaching $93.00. The company had a trading volume of 3,694,505 shares, compared to its average volume of 5,803,995. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The stock has a market cap of $51.46 billion, a PE ratio of -7.36, a price-to-earnings-growth ratio of 1.63 and a beta of 1.02. The firm has a 50 day simple moving average of $95.73 and a 200-day simple moving average of $97.43. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the company earned $2.28 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Research analysts forecast that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MMM shares. JPMorgan Chase & Co. dropped their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Wells Fargo & Company cut their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Citigroup increased their target price on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Bank of America lowered their price target on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Finally, Barclays reduced their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.00.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

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.