3M Company $MMM Shares Purchased by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in 3M Company by 24.1% in the first quarter, owning 20,127 shares valued at approximately $2.96 million.
• 3M reported an EPS of $2.16 for the last quarter, exceeding analyst estimates of $2.01, and its revenue was up 1.4% year-over-year.
• The company announced a quarterly dividend of $0.73 per share, scheduled for payment on September 12th, reflecting an annualized dividend yield of 1.9%.

Focus Partners Advisor Solutions LLC boosted its stake in shares of 3M Company (NYSE:MMM - Free Report) by 24.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,127 shares of the conglomerate's stock after acquiring an additional 3,905 shares during the period. Focus Partners Advisor Solutions LLC's holdings in 3M were worth $2,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Ensign Peak Advisors Inc boosted 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. Financial Gravity Asset Management Inc. purchased a new position in shares of 3M in the 1st quarter worth approximately $2,506,000. Synergy Asset Management LLC grew its position in shares of 3M by 122.7% in the 1st quarter. Synergy Asset Management LLC now owns 4,512 shares of the conglomerate's stock worth $663,000 after buying an additional 2,486 shares during the last quarter. Northstar Group Inc. purchased a new position in shares of 3M in the 1st quarter worth approximately $262,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of 3M in the 1st quarter worth approximately $786,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

Shares of MMM traded down $0.23 during trading hours on Friday, hitting $155.29. The stock had a trading volume of 2,052,950 shares, compared to its average volume of 2,824,897. 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 firm has a 50-day moving average price of $153.80 and a 200 day moving average price of $147.68. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $164.15. The firm has a market capitalization of $82.71 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 3.01 and a beta of 1.04.

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, beating the consensus estimate of $2.01 by $0.15. The firm had revenue of $6.16 billion during the quarter, compared to analysts' expectations of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The business's revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.93 EPS. As a group, research analysts anticipate that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, August 25th. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M's dividend payout ratio is currently 40.61%.

Analyst Ratings Changes

MMM has been the topic of several research analyst reports. JPMorgan Chase & Co. set a $167.00 target price on shares of 3M in a research report on Friday, July 18th. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a research report on Friday, July 18th. Citigroup boosted their target price on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Barclays set a $170.00 target price on shares of 3M in a research report on Friday, July 18th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday, August 30th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $161.78.

Insiders Place Their Bets

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

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.