Wolf Group Capital Advisors Acquires New Stake in 3M Company (NYSE:MMM)

Wolf Group Capital Advisors purchased a new stake in shares of 3M Company (NYSE:MMM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,725 shares of the conglomerate's stock, valued at approximately $400,000.

A number of other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of 3M by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after buying an additional 280,048 shares during the last quarter. Northern Trust Corp lifted its stake in 3M by 12.6% in the fourth quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock worth $871,738,000 after acquiring an additional 755,155 shares during the period. Capital World Investors boosted its holdings in 3M by 25.4% in the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock valued at $794,410,000 after acquiring an additional 1,248,093 shares in the last quarter. Bank of New York Mellon Corp increased its position in 3M by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after purchasing an additional 479,621 shares during the period. Finally, Norges Bank bought a new position in 3M in the 4th quarter worth $636,767,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research reports. Royal Bank Of Canada lifted their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Wednesday, June 11th. Barclays increased their target price on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Citigroup lifted their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Finally, Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and a consensus price target of $155.83.

3M Stock Up 0.2%

Shares of NYSE:MMM traded up $0.22 on Wednesday, hitting $142.43. 2,629,147 shares of the company traded hands, compared to its average volume of 3,828,020. The stock has a 50 day simple moving average of $142.68 and a 200-day simple moving average of $141.98. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The company has a market cap of $76.65 billion, a PE ratio of 17.98, a PEG ratio of 3.01 and a beta of 1.03. 3M Company has a 52 week low of $98.26 and a 52 week high of $156.35.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. As a group, research analysts expect that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.05%. 3M's payout ratio is currently 36.87%.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the transaction, the executive vice president now directly owns 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president now owns 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

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.