Heartland Bank & Trust Co Purchases New Shares in 3M Company (NYSE:MMM)

Heartland Bank & Trust Co purchased a new stake in 3M Company (NYSE:MMM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,697 shares of the conglomerate's stock, valued at approximately $690,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MMM. Proficio Capital Partners LLC purchased a new stake in shares of 3M in the 4th quarter valued at approximately $26,000. REAP Financial Group LLC raised 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 acquiring an additional 94 shares during the period. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M in the 4th quarter valued at approximately $27,000. Pinney & Scofield Inc. purchased a new stake in shares of 3M in the 4th quarter valued at approximately $28,000. Finally, Curat Global LLC purchased a new stake in shares of 3M in the 1st quarter valued at approximately $29,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were 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 now owns 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now owns 6,127 shares of the company's stock, valued at $913,045.54. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.48% of the company's stock.

Analyst Ratings Changes

MMM has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a 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 company a "buy" rating in a report on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Wednesday, June 11th. Citigroup lifted their price objective on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada lifted their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Two equities 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $155.83.

3M Stock Up 0.9%

NYSE MMM traded up $1.34 on Friday, hitting $143.85. 5,562,012 shares of the stock were exchanged, compared to its average volume of 3,821,729. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. 3M Company has a fifty-two week low of $98.26 and a fifty-two week high of $156.35. The company has a market cap of $77.42 billion, a PE ratio of 18.16, a PEG ratio of 2.99 and a beta of 1.03. The company has a 50-day moving average price of $143.11 and a 200-day moving average price of $142.28.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 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 during the quarter, compared to analysts' expectations of $5.78 billion. Sell-side analysts anticipate that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.03%. 3M's dividend payout ratio is presently 36.87%.

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.