3M (NYSE:MMM) Stock Holdings Increased by Leverty Financial Group LLC

Leverty Financial Group LLC boosted its position in shares of 3M (NYSE:MMM - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,758 shares of the conglomerate's stock after buying an additional 2,609 shares during the period. 3M accounts for about 1.2% of Leverty Financial Group LLC's portfolio, making the stock its 11th largest holding. Leverty Financial Group LLC's holdings in 3M were worth $2,902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new position in 3M during the fourth quarter worth $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M in the fourth quarter valued at approximately $26,000. REAP Financial Group LLC grew its holdings in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in 3M during the 4th quarter worth approximately $27,000. Finally, Pinney & Scofield Inc. purchased a new position in 3M in the 4th quarter valued at approximately $28,000. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Trading Down 0.5%

NYSE MMM traded down $0.73 during mid-day trading on Thursday, reaching $146.08. 3,568,287 shares of the stock were exchanged, compared to its average volume of 3,868,698. The stock has a market capitalization of $78.62 billion, a PE ratio of 19.35, a PEG ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 1-year low of $97.87 and a 1-year high of $156.35. The business's fifty day simple moving average is $141.24 and its 200 day simple moving average is $141.02.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. On average, research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.00%. 3M's payout ratio is currently 36.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MMM shares. JPMorgan Chase & Co. increased their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Royal Bank of Canada boosted their price objective on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Citigroup upped their target price on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research note on Friday, May 30th. Barclays boosted their price target on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Finally, Bank of America raised 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and an average target price of $153.46.

Insider Buying and Selling

In other news, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction dated 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 directly owns 6,127 shares of the company's stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the 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 completion of the transaction, the executive vice president now directly owns 31,372 shares of the company's stock, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.