Dynamic Advisor Solutions LLC Buys New Holdings in 3M Company (NYSE:MMM)

Dynamic Advisor Solutions LLC bought a new position in shares of 3M Company (NYSE:MMM - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund bought 5,350 shares of the conglomerate's stock, valued at approximately $786,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new stake in 3M in the 4th quarter valued at about $851,000. Ensign Peak Advisors Inc raised its position in shares of 3M by 29.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock valued at $82,921,000 after purchasing an additional 145,146 shares during the period. Braun Stacey Associates Inc. raised its position in shares of 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock valued at $18,408,000 after purchasing an additional 22,203 shares during the period. Asahi Life Asset Management CO. LTD. lifted its stake in shares of 3M by 34.0% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate's stock valued at $1,616,000 after buying an additional 3,173 shares in the last quarter. Finally, Allstate Corp bought a new position in 3M in the 4th quarter worth approximately $2,101,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John Patrick Banovetz sold 7,759 shares of the 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 completion of the sale, the executive vice president now directly owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 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 disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

3M Stock Performance

NYSE:MMM traded up $0.22 during mid-day trading on Wednesday, reaching $142.43. The company's stock had a trading volume of 2,629,141 shares, compared to its average volume of 3,828,019. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The stock has a market cap of $76.65 billion, a P/E ratio of 17.98, a PEG ratio of 3.01 and a beta of 1.03. The firm's fifty day moving average price is $142.68 and its two-hundred day moving average price is $141.98. 3M Company has a 12-month low of $98.26 and a 12-month high of $156.35.

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, beating analysts' consensus estimates 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 the consensus estimate of $5.78 billion. On average, equities analysts forecast that 3M Company will post 7.8 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 2.05%. 3M's dividend payout ratio is currently 36.87%.

Analyst Ratings Changes

Several equities research analysts have issued reports on MMM shares. JPMorgan Chase & Co. increased their target price on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Bank of America lifted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Barclays lifted their price target on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Citigroup raised their price target on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Finally, Royal Bank Of Canada increased their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and a consensus target price of $155.83.

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.