Aegis Wealth Management LLC Purchases Shares of 8,690 3M (NYSE:MMM)

Aegis Wealth Management LLC bought a new position in 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 8,690 shares of the conglomerate's stock, valued at approximately $1,122,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wood Tarver Financial Group LLC acquired a new stake in shares of 3M during the fourth quarter worth approximately $64,000. Total Wealth Planning & Management Inc. bought a new stake in 3M in the 4th quarter valued at $1,741,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in 3M in the 4th quarter worth $51,289,000. REAP Financial Group LLC grew its position in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after purchasing an additional 94 shares during the last quarter. Finally, Chelsea Counsel Co. acquired a new stake in shares of 3M during the 4th quarter valued at about $2,426,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

NYSE MMM traded down $1.43 on Friday, hitting $148.20. 5,339,771 shares of the stock were exchanged, compared to its average volume of 3,893,398. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business's fifty day moving average is $141.33 and its 200 day moving average is $140.81. 3M has a 52 week low of $97.68 and a 52 week high of $156.35. The company has a market capitalization of $79.76 billion, a PE ratio of 19.63, a P/E/G ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. Research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.97%. 3M's dividend payout ratio is currently 36.87%.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the transaction, the executive vice president now 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 sale 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 stock was 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 owns 6,127 shares in the company, valued at $913,045.54. This trade represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Royal Bank of Canada boosted their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Bank of America boosted their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Finally, Barclays upped their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $153.46.

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.