HC Financial Advisors Inc. Takes Position in 3M Co (MMM)
HC Financial Advisors Inc. acquired a new stake in 3M Co (NYSE:MMM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,375 shares of the conglomerate’s stock, valued at approximately $1,254,000.
Other large investors also recently added to or reduced their stakes in the company. Rainier Group Investment Advisory LLC bought a new stake in shares of 3M in the 1st quarter valued at $114,000. Quattro Financial Advisors LLC bought a new stake in shares of 3M in the 1st quarter valued at $119,000. Ballew Advisors Inc bought a new stake in shares of 3M in the 1st quarter valued at $122,000. Stelac Advisory Services LLC bought a new stake in shares of 3M in the 1st quarter valued at $125,000. Finally, BDO Wealth Advisors LLC increased its stake in shares of 3M by 359.4% in the 1st quarter. BDO Wealth Advisors LLC now owns 712 shares of the conglomerate’s stock valued at $156,000 after acquiring an additional 557 shares in the last quarter. Institutional investors own 67.16% of the company’s stock.
Shares of MMM stock opened at $204.77 on Friday. The firm has a market cap of $118.47 billion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.56 and a quick ratio of 1.08. 3M Co has a 12 month low of $190.57 and a 12 month high of $259.77.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Friday, August 24th will be issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, August 23rd. 3M’s dividend payout ratio is 59.32%.
Several research firms have recently weighed in on MMM. Jefferies Financial Group lowered shares of 3M from a “buy” rating to a “hold” rating and lowered their price objective for the company from $259.77 to $200.00 in a research note on Wednesday, May 16th. Argus lowered their price objective on shares of 3M from $285.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, April 25th. Royal Bank of Canada upgraded shares of 3M from a “sector perform” rating to an “outperform” rating and set a $238.00 price objective for the company in a research note on Thursday, May 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, Barclays decreased their price target on shares of 3M from $230.00 to $210.00 and set an “underweight” rating for the company in a research note on Wednesday, April 25th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. 3M has an average rating of “Hold” and an average target price of $234.03.
In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of 3M stock in a transaction on Friday, August 10th. The shares were sold at an average price of $203.01, for a total transaction of $1,301,294.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is owned by insiders.
3M Company 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.
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.