3M (NYSE:MMM) Shares Bought by Twelve Points Wealth Management LLC

Twelve Points Wealth Management LLC lifted its stake in shares of 3M (NYSE:MMM) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,656 shares of the conglomerate’s stock after purchasing an additional 440 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in 3M were worth $637,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of MMM. Tributary Capital Management LLC purchased a new position in 3M during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after buying an additional 197 shares during the period. MFA Wealth Advisors LLC acquired a new stake in shares of 3M in the 2nd quarter valued at approximately $28,000. Daymark Wealth Partners LLC raised its position in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing 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 completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

3M Stock Performance

Shares of NYSE MMM opened at $136.39 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The firm’s 50-day moving average price is $132.24 and its two-hundred day moving average price is $112.14. The stock has a market capitalization of $75.47 billion, a P/E ratio of -10.72, a P/E/G ratio of 2.49 and a beta of 0.95. 3M has a 52-week low of $71.12 and a 52-week high of $140.72.

3M (NYSE:MMM) last issued its earnings results 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 firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period last year, the company earned $2.17 earnings per share. As a group, sell-side analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.05%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

Analyst Ratings Changes

MMM has been the subject of a number of recent analyst reports. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Tuesday, July 30th. Morgan Stanley initiated coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Barclays lifted their price objective on shares of 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Bank of America raised their price target on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, 3M has an average rating of “Hold” and a consensus price target of $127.64.

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.