CW Advisors LLC Purchases 13,385 Shares of 3M Company $MMM

Key Points

• CW Advisors LLC significantly increased its stake in 3M Company by purchasing an additional 13,385 shares, bringing its total holdings to 23,486 shares valued at approximately $3.49 million.
• 3M reported strong fiscal performance, with a quarterly earnings per share of $2.16 and revenue of $6.16 billion, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.73 per share, set to be paid on September 12th, reflecting an annualized dividend yield of 1.8%.

CW Advisors LLC boosted its position in shares of 3M Company (NYSE:MMM - Free Report) by 132.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,486 shares of the conglomerate's stock after purchasing an additional 13,385 shares during the quarter. CW Advisors LLC's holdings in 3M were worth $3,491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCV Trust & Wealth Management Inc. raised its holdings in 3M by 1.1% during the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock worth $954,000 after purchasing an additional 73 shares during the last quarter. Cahaba Wealth Management Inc. increased its stake in shares of 3M by 1.4% in the 1st quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock valued at $819,000 after acquiring an additional 75 shares during the last quarter. Altman Advisors Inc. increased its stake in shares of 3M by 0.5% in the 1st quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate's stock valued at $2,318,000 after acquiring an additional 76 shares during the last quarter. NBT Bank N A NY increased its stake in shares of 3M by 0.8% in the 1st quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock valued at $1,431,000 after acquiring an additional 79 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its stake in shares of 3M by 2.6% in the 1st quarter. Rehmann Capital Advisory Group now owns 3,272 shares of the conglomerate's stock valued at $481,000 after acquiring an additional 82 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 3M news, CAO Theresa E. Reinseth sold 3,477 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the transaction, the chief accounting officer owned 2,561 shares of the company's stock, valued at $385,763.43. This represents a 57.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the transaction, the insider directly owned 2,900 shares of the company's stock, valued at approximately $435,522. This trade represents a 68.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

3M Price Performance

NYSE MMM opened at $158.5790 on Friday. The business has a 50 day simple moving average of $152.00 and a 200 day simple moving average of $147.26. 3M Company has a 52-week low of $121.98 and a 52-week high of $164.15. 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 cap of $84.46 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 3.07 and a beta of 1.05.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.15. 3M had a return on equity of 96.48% and a net margin of 16.01%.The business had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.09 billion. During the same period in the prior year, the business earned $1.93 EPS. 3M's revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts anticipate that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 25th will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.8%. 3M's dividend payout ratio (DPR) is currently 40.61%.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a research note on Friday, July 18th. Citigroup upped their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Barclays set a $170.00 price target on 3M in a research note on Friday, July 18th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. set a $167.00 price target on 3M in a research note on Friday, July 18th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $158.10.

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.

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