Cwm LLC Has $13.18 Million Position in 3M Company (NYSE:MMM)

CWM LLC increased its position in 3M Company (NYSE:MMM - Free Report) by 18.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,712 shares of the conglomerate's stock after acquiring an additional 13,927 shares during the period. CWM LLC's holdings in 3M were worth $13,175,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MMM. REAP Financial Group LLC increased its stake in 3M by 88.7% during the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after buying an additional 94 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in 3M during the 4th quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new position in 3M during the 4th quarter valued at about $28,000. Curat Global LLC acquired a new position in 3M during the 1st quarter valued at about $29,000. Finally, Meeder Asset Management Inc. increased its stake in 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after buying an additional 214 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on MMM shares. Barclays set a $170.00 target price on shares of 3M in a research note on Friday. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, July 12th. Citigroup raised their price objective on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Wells Fargo & Company restated an "overweight" rating on shares of 3M in a research report on Friday. Finally, Royal Bank Of Canada raised their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.33.

3M Stock Down 4.5%

Shares of MMM stock traded down $7.19 during trading on Friday, hitting $151.85. 6,854,275 shares of the company were exchanged, compared to its average volume of 3,816,393. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. The firm has a market capitalization of $81.72 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 3.07 and a beta of 1.02. The business's 50-day simple moving average is $149.68 and its 200 day simple moving average is $145.26. 3M Company has a twelve month low of $101.77 and a twelve month high of $165.14.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 EPS for the quarter, topping the consensus estimate of $2.01 by $0.15. The business had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.09 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. The firm's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.93 earnings per share. As a group, analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.92%. 3M's dividend payout ratio is 36.87%.

Insider Buying and Selling

In other news, EVP Zoe L. Dickson sold 7,915 shares of 3M 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 transaction, the executive vice president owned 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M 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 completion of the transaction, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

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.