Range Financial Group LLC Has $545,000 Stock Holdings in 3M (NYSE:MMM)

Range Financial Group LLC decreased its position in 3M (NYSE:MMM) by 29.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,334 shares of the conglomerate’s stock after selling 2,189 shares during the period. Range Financial Group LLC’s holdings in 3M were worth $545,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of MMM. Tributary Capital Management LLC bought a new position in 3M in the first quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. increased its holdings in 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in 3M during the second quarter worth $28,000. Northwest Investment Counselors LLC acquired a new stake in 3M in the first quarter valued at $32,000. Finally, TruNorth Capital Management LLC bought a new position in shares of 3M in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Down 0.2 %

MMM opened at $131.93 on Thursday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $134.99. The company’s 50 day moving average price is $117.39 and its two-hundred day moving average price is $104.55. The firm has a market capitalization of $73.00 billion, a price-to-earnings ratio of -10.39, a PEG ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period in the prior year, the business posted $2.17 earnings per share. As a group, research analysts predict that 3M will post 7.2 earnings per share for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

Insider Transactions at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $150.00 in a report on Monday, July 29th. Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research report on Thursday, June 13th. Barclays boosted their target price on 3M from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Vertical Research raised 3M from a “hold” rating to a “buy” rating and raised their price target for the company from $92.00 to $140.00 in a report on Thursday, May 16th. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.38.

About 3M

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.