3,838 Shares in 3M Company (NYSE:MMM) Purchased by Roman Butler Fullerton & Co.

Roman Butler Fullerton & Co. bought a new stake in 3M Company (NYSE:MMM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,838 shares of the conglomerate's stock, valued at approximately $519,000.

Several other hedge funds also recently bought and sold shares of MMM. Brighton Jones LLC increased its holdings in 3M by 26.6% in the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 1,872 shares during the last quarter. Principal Securities Inc. boosted its position in shares of 3M by 76.1% during the fourth quarter. Principal Securities Inc. now owns 12,022 shares of the conglomerate's stock worth $1,552,000 after buying an additional 5,195 shares during the period. Allworth Financial LP boosted its position in shares of 3M by 32.6% during the fourth quarter. Allworth Financial LP now owns 35,244 shares of the conglomerate's stock worth $4,550,000 after buying an additional 8,658 shares during the period. Americana Partners LLC grew its stake in shares of 3M by 27.8% in the fourth quarter. Americana Partners LLC now owns 4,161 shares of the conglomerate's stock valued at $537,000 after buying an additional 906 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its holdings in shares of 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the completion of the sale, the executive vice president now directly owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares of the company's stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MMM. Bank of America lifted their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. raised their price objective on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays upped their target price on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Wednesday, June 11th. Finally, Citigroup boosted their price target on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $155.83.

3M Stock Performance

NYSE:MMM opened at $142.18 on Wednesday. 3M Company has a 12 month low of $98.26 and a 12 month high of $156.35. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The firm has a market capitalization of $76.52 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 3.01 and a beta of 1.03. The business's fifty day moving average price is $142.68 and its 200 day moving average price is $141.98.

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

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.05%. 3M's dividend payout ratio is presently 36.87%.

3M 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.

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