Koss Olinger Consulting LLC Purchases Shares of 8,387 3M Company (NYSE:MMM)

Key Points

• Koss Olinger Consulting LLC has acquired a new stake in 3M Company, purchasing 8,387 shares valued at approximately $1.23 million.
earnings per share (EPS) of $2.16 for the most recent quarter, surpassing analysts' expectations of $2.01, while also achieving a 1.4% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.73 per share, with a 1.9% yield based on an annualized dividend of $2.92.

Koss Olinger Consulting LLC purchased a new position in 3M Company (NYSE:MMM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,387 shares of the conglomerate's stock, valued at approximately $1,232,000.

A number of other large investors have also modified their holdings of MMM. REAP Financial Group LLC grew its holdings in shares of 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after buying an additional 94 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of 3M during the fourth quarter worth $28,000. Curat Global LLC purchased a new stake in shares of 3M during the first quarter worth $29,000. Intelligent Financial Strategies purchased a new stake in shares of 3M during the first quarter worth $42,000. Finally, Investment Management Corp VA ADV grew its holdings in shares of 3M by 173.6% during the first quarter. Investment Management Corp VA ADV now owns 301 shares of the conglomerate's stock worth $44,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MMM shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Tuesday, July 29th. Barclays set a $170.00 price objective on shares of 3M in a report on Friday, July 18th. Royal Bank Of Canada upped 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. Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a research report on Friday, July 18th. Finally, JPMorgan Chase & Co. set a $167.00 target price on shares of 3M in a research report on Friday, July 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $158.10.

Insider Buying and Selling at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total transaction of $925,859.70. Following the sale, the insider directly owned 2,900 shares in the company, valued at approximately $435,522. This represents a 68.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the company'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 owned 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,316 shares of company stock worth $3,780,296 over the last ninety days. Company insiders own 0.48% of the company's stock.

3M Stock Up 1.4%

Shares of MMM traded up $2.23 during mid-day trading on Wednesday, hitting $160.08. 1,407,739 shares of the company's stock were exchanged, compared to its average volume of 3,847,187. The company has a market cap of $85.26 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 3.01 and a beta of 1.05. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $164.15. 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 stock's 50-day moving average is $150.35 and its 200-day moving average is $147.06.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. The business had revenue of $6.16 billion for 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 quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 earnings per share. On average, sell-side analysts anticipate that 3M Company will post 7.8 earnings per share for the current fiscal year.

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.