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.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $2.59 EPS for the quarter, beating the Zacks’ consensus estimate of $2.58 by $0.01. The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.36 billion. 3M had a net margin of 13.44% and a return on equity of 51.31%. 3M’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.58 EPS. analysts forecast that 3M Co will post 10.37 EPS for the current year.

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.

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

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