DSG Capital Advisors LLC Takes $1.97 Million Position in 3M (NYSE:MMM)

DSG Capital Advisors LLC purchased a new stake in 3M (NYSE:MMM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 15,226 shares of the conglomerate's stock, valued at approximately $1,966,000.

Several other large investors have also modified their holdings of MMM. Financial Life Planners acquired a new position in shares of 3M in the 4th quarter valued at $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M in the 4th quarter valued at $26,000. REAP Financial Group LLC lifted its stake in shares of 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. acquired a new position in 3M during the 4th quarter worth about $27,000. Finally, Pinney & Scofield Inc. acquired a new position in 3M during the 4th quarter worth about $28,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MMM. Bank of America raised their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Barclays raised their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank of Canada raised their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Citigroup lowered their target price on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and a consensus price target of $152.08.

3M Stock Up 0.7%

Shares of NYSE MMM traded up $1.02 during midday trading on Thursday, hitting $149.68. 2,621,422 shares of the company's stock were exchanged, compared to its average volume of 3,961,563. The company has a market cap of $80.55 billion, a PE ratio of 19.83, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a twelve month low of $96.89 and a twelve month high of $156.35. 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 firm's fifty day simple moving average is $141.44 and its 200-day simple moving average is $140.56.

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

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.95%. 3M's dividend payout ratio is currently 36.87%.

Insider Buying and Selling at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the business'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 value of $1,151,202.83. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the business'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 completion of the sale, the executive vice president now owns 6,127 shares of the company's stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

3M 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.