3M (NYSE:MMM) Shares Purchased by LVM Capital Management Ltd. MI

LVM Capital Management Ltd. MI raised its holdings in shares of 3M (NYSE:MMM - Free Report) by 69.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,844 shares of the conglomerate's stock after buying an additional 4,835 shares during the period. LVM Capital Management Ltd. MI's holdings in 3M were worth $1,739,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wayfinding Financial LLC acquired a new position in 3M during the 4th quarter worth $851,000. Ensign Peak Advisors Inc increased its position in 3M by 29.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock valued at $82,921,000 after acquiring an additional 145,146 shares during the period. Braun Stacey Associates Inc. lifted its holdings in 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after purchasing an additional 22,203 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in shares of 3M by 1,615.9% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate's stock valued at $15,780,000 after acquiring an additional 115,116 shares during the period. Finally, Asahi Life Asset Management CO. LTD. grew its holdings in 3M by 34.0% during the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate's stock worth $1,616,000 after acquiring an additional 3,173 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MMM shares. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays increased their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 24th. JPMorgan Chase & Co. boosted their target price on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Royal Bank of Canada increased their price target 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $153.46.

Insiders Place Their Bets

In related news, EVP John Patrick Banovetz sold 7,759 shares of 3M 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 sale, the executive vice president now directly owns 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction dated 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 in the company, valued at $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

3M Stock Performance

MMM traded down $0.69 during midday trading on Wednesday, hitting $147.44. 873,536 shares of the company traded hands, compared to its average volume of 3,868,696. The company's 50-day moving average is $141.20 and its 200 day moving average is $140.98. The firm has a market capitalization of $79.35 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52 week low of $97.68 and a 52 week high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. On average, research analysts expect that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.98%. 3M's dividend payout ratio is currently 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.