3M Company (NYSE:MMM) Shares Acquired by Braun Stacey Associates Inc.

Braun Stacey Associates Inc. raised its position in 3M Company (NYSE:MMM - Free Report) by 11.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 159,356 shares of the conglomerate's stock after buying an additional 16,760 shares during the quarter. Braun Stacey Associates Inc.'s holdings in 3M were worth $23,403,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Wayfinding Financial LLC acquired a new position in shares of 3M during the 4th quarter worth $851,000. Ensign Peak Advisors Inc grew its stake in shares of 3M by 29.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock worth $82,921,000 after purchasing an additional 145,146 shares during the period. Allstate Corp acquired a new position in shares of 3M during the 4th quarter worth $2,101,000. Synergy Asset Management LLC grew its stake in shares of 3M by 122.7% during the 1st quarter. Synergy Asset Management LLC now owns 4,512 shares of the conglomerate's stock worth $663,000 after purchasing an additional 2,486 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in shares of 3M by 59.8% during the 4th quarter. Teacher Retirement System of Texas now owns 747,954 shares of the conglomerate's stock worth $96,553,000 after purchasing an additional 280,015 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Up 1.2%

Shares of 3M stock traded up $1.86 during mid-day trading on Tuesday, hitting $153.70. 3,252,151 shares of the stock were exchanged, compared to its average volume of 3,811,633. 3M Company has a twelve month low of $98.26 and a twelve month high of $156.35. The stock has a market capitalization of $82.72 billion, a price-to-earnings ratio of 19.41, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. The company has a 50-day simple moving average of $147.22 and a 200 day simple moving average of $144.04. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72.

3M (NYSE:MMM - Get Free Report) last released its quarterly 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. 3M had a net margin of 17.79% and a return on equity of 96.19%. The company had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. Research analysts forecast that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently declared 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 dividend yield of 1.90%. 3M's dividend payout ratio is currently 36.87%.

Insider Activity

In related news, EVP Zoe L. Dickson sold 7,915 shares of the firm's 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 sale, the executive vice president directly owned 6,127 shares of the company's stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Royal Bank Of Canada upped 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Friday, June 27th. Citigroup raised their target price on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised their target price on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Barclays raised their target price 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 analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, 3M has an average rating of "Moderate Buy" and a consensus target price of $155.83.

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.