Calamos Advisors LLC Acquires 87,500 Shares of 3M (NYSE:MMM)

Calamos Advisors LLC boosted its stake in shares of 3M (NYSE:MMM) by 118.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 161,155 shares of the conglomerate’s stock after acquiring an additional 87,500 shares during the period. Calamos Advisors LLC’s holdings in 3M were worth $20,803,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Gilbert & Cook Inc. increased its stake in 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after buying an additional 73 shares during the period. Childress Capital Advisors LLC boosted its stake in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock worth $203,000 after purchasing an additional 76 shares in the last quarter. CVA Family Office LLC grew its holdings in shares of 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 during the last quarter. Wynn Capital LLC increased its holdings in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares during the period. Finally, Harbour Investments Inc. raised its stake in shares of 3M by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 81 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday. JPMorgan Chase & Co. upped their target price on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Citigroup raised their price target on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

Insider Buying and Selling at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Michael F. Roman sold 45,276 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the completion of the sale, the chairman now directly owns 175,718 shares in the company, valued at approximately $26,359,457.18. This represents a 20.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. Insiders own 0.38% of the company’s stock.

3M Trading Down 1.4 %

Shares of NYSE MMM opened at $150.13 on Tuesday. The stock has a market cap of $81.76 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 3.37 and a beta of 0.96. The business has a 50 day simple moving average of $135.21 and a 200 day simple moving average of $131.26. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52 week low of $75.40 and a 52 week high of $155.00.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. The business’s revenue for the quarter was down 25.0% on a year-over-year basis. On average, research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

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.