J.W. Cole Advisors Inc. Purchases 14,431 Shares of 3M Company (NYSE:MMM)

J.W. Cole Advisors Inc. lifted its stake in 3M Company (NYSE:MMM - Free Report) by 162.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,289 shares of the conglomerate's stock after acquiring an additional 14,431 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in 3M were worth $3,420,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. REAP Financial Group LLC increased its position in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after acquiring an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M during the 4th quarter worth $27,000. Pinney & Scofield Inc. acquired a new stake in 3M during the fourth quarter worth approximately $28,000. Curat Global LLC purchased a new stake in shares of 3M during the first quarter valued at approximately $29,000. Finally, Meeder Asset Management Inc. boosted its stake in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after buying an additional 214 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the 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 completion of the sale, the executive vice president directly owned 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction dated 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 sale, the executive vice president directly owned 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

3M Stock Performance

NYSE:MMM opened at $153.81 on Monday. 3M Company has a 52 week low of $101.77 and a 52 week high of $164.15. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. The company has a fifty day simple moving average of $149.91 and a two-hundred day simple moving average of $145.65. The company has a market cap of $82.78 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.98 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last posted its quarterly 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. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The company's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $1.93 EPS. As a group, equities analysts anticipate that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.90%. 3M's payout ratio is 40.61%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MMM. JPMorgan Chase & Co. set a $167.00 target price on 3M in a research note on Friday. Royal Bank Of Canada raised their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Barclays set a $170.00 price target on shares of 3M in a report on Friday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday, July 12th. Finally, Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $156.33.

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.

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