3M Company (NYSE:MMM) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its holdings in 3M Company (NYSE:MMM - Free Report) by 75.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,444 shares of the conglomerate's stock after purchasing an additional 25,471 shares during the quarter. SteelPeak Wealth LLC's holdings in 3M were worth $8,730,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Proficio Capital Partners LLC acquired a new position in shares of 3M during the fourth quarter valued at approximately $26,000. REAP Financial Group LLC raised its holdings in shares of 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M during the fourth quarter valued at approximately $27,000. Pinney & Scofield Inc. acquired a new position in shares of 3M during the fourth quarter valued at approximately $28,000. Finally, Curat Global LLC acquired a new position in shares of 3M during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction on Friday, May 23rd. The stock was 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 $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was 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 approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Barclays increased their target price on 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a report on Wednesday. Citigroup increased their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Wells Fargo & Company increased their price target on 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada increased their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and a consensus target price of $156.33.

3M Price Performance

MMM stock opened at $157.32 on Friday. The business has a fifty day moving average of $147.95 and a two-hundred day moving average of $144.32. 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 stock has a market cap of $84.66 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 3.05 and a beta of 1.02. 3M Company has a 52-week low of $100.87 and a 52-week high of $159.47.

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

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.86%. 3M's dividend payout ratio (DPR) is 36.87%.

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.

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