Kercheville Advisors LLC Makes New $1.04 Million Investment in 3M Company (NYSE:MMM)

Kercheville Advisors LLC purchased a new stake in 3M Company (NYSE:MMM - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 7,100 shares of the conglomerate's stock, valued at approximately $1,043,000.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in 3M by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after purchasing an additional 280,048 shares during the last quarter. Northern Trust Corp boosted its position in shares of 3M by 12.6% in the 4th quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock worth $871,738,000 after purchasing an additional 755,155 shares in the last quarter. Capital World Investors grew its stake in 3M by 25.4% during the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after buying an additional 1,248,093 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 3M by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock worth $734,456,000 after buying an additional 479,621 shares during the last quarter. Finally, Norges Bank acquired a new position in 3M during the 4th quarter valued at about $636,767,000. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MMM. Citigroup upped 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. JPMorgan Chase & Co. raised their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Wednesday, June 11th. Finally, Bank of America increased their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $155.83.

3M Stock Performance

3M stock traded up $0.22 during mid-day trading on Wednesday, hitting $142.43. The company had a trading volume of 2,629,147 shares, compared to its average volume of 3,829,547. The company has a market capitalization of $76.65 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 2.95 and a beta of 1.03. 3M Company has a 12-month low of $98.26 and a 12-month high of $156.35. The company's fifty day moving average is $142.68 and its 200-day moving average is $141.98. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. Equities research analysts predict that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders 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 yield of 2.05%. 3M's dividend payout ratio is currently 36.87%.

Insider Buying and Selling at 3M

In related news, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $1,179,493.30. Following the sale, the executive vice president now 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. 0.34% of the stock is owned by corporate 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.