AE Wealth Management LLC Boosts Holdings in 3M Company (NYSE:MMM)

AE Wealth Management LLC lifted its position in 3M Company (NYSE:MMM - Free Report) by 150.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 64,558 shares of the conglomerate's stock after purchasing an additional 38,796 shares during the period. AE Wealth Management LLC's holdings in 3M were worth $9,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. REAP Financial Group LLC lifted its stake in 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after acquiring an additional 94 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in 3M in the fourth quarter worth $27,000. Pinney & Scofield Inc. purchased a new stake in 3M in the fourth quarter worth $28,000. Curat Global LLC purchased a new stake in 3M in the first quarter worth $29,000. Finally, Meeder Asset Management Inc. lifted its stake in 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares during the period. Institutional investors own 65.25% of the company's stock.

Insider Activity

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 completion of the sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction dated 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 completion of the sale, the executive vice president owned 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 disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

3M Stock Up 1.3%

Shares of MMM traded up $1.97 during trading hours on Friday, hitting $151.27. The company had a trading volume of 2,779,195 shares, compared to its average volume of 3,920,118. The firm has a fifty day moving average price of $149.99 and a 200-day moving average price of $146.15. The company has a debt-to-equity ratio of 2.87, a quick ratio of 1.20 and a current ratio of 1.72. The stock has a market capitalization of $80.57 billion, a price-to-earnings ratio of 21.04, a P/E/G ratio of 3.01 and a beta of 1.02. 3M Company has a 52-week low of $112.68 and a 52-week high of $164.15.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 EPS for the quarter, topping the consensus estimate of $2.01 by $0.15. 3M had a return on equity of 96.48% and a net margin of 16.01%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period last year, the company earned $1.93 EPS. 3M's revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The firm 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 annualized dividend and a yield of 1.93%. 3M's payout ratio is 40.61%.

Analysts Set New Price Targets

A number of analysts recently commented on MMM shares. Royal Bank Of Canada raised their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Barclays set a $170.00 price objective on 3M in a research report on Friday, July 18th. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a research report on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 price objective on 3M in a research report on Friday, July 18th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.33.

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.