3M (NYSE:MMM) Shares Bought by Symphony Financial Ltd. Co.

Symphony Financial Ltd. Co. grew its holdings in shares of 3M (NYSE:MMM) by 10.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,088 shares of the conglomerate’s stock after purchasing an additional 1,360 shares during the period. Symphony Financial Ltd. Co.’s holdings in 3M were worth $1,930,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC lifted its position in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares in the last quarter. Fortis Capital Advisors LLC lifted its position in 3M by 2.9% during the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after buying an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares in the last quarter. Raleigh Capital Management Inc. lifted its position in 3M by 2.9% during the third quarter. Raleigh Capital Management Inc. now owns 3,038 shares of the conglomerate’s stock valued at $415,000 after buying an additional 87 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of 3M by 0.4% during the second quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock worth $2,311,000 after purchasing an additional 97 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Down 2.3 %

3M stock opened at $131.73 on Wednesday. The company has a 50-day simple moving average of $133.03 and a 200-day simple moving average of $113.46. The firm has a market capitalization of $72.89 billion, a P/E ratio of -10.36, a P/E/G ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a one year low of $71.12 and a one year high of $141.34.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 net margin of 3.08% and a return on equity of 112.92%. During the same quarter in the prior year, the company posted $2.17 earnings per share. As a group, equities analysts expect that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is currently -22.01%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MMM. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Barclays boosted their target price on shares of 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Mizuho boosted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Finally, Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $133.87.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 5,675 shares of the company’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 owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred 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 transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

3M Company 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.