Leverty Financial Group LLC Increases Stock Position in 3M (NYSE:MMM)

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

Several other large investors have also recently added to or reduced their stakes in MMM. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock valued at $694,000 after buying an additional 67 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of 3M by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock valued at $665,000 after purchasing an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC grew its holdings in shares of 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after purchasing an additional 71 shares during the last quarter. Childress Capital Advisors LLC grew its holdings in shares of 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after purchasing an additional 76 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of 3M by 5.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate's stock valued at $196,000 after purchasing an additional 77 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MMM. Citigroup lifted their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Royal Bank of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Barclays lifted their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.46.

3M Trading Down 0.5%

Shares of NYSE:MMM traded down $0.68 during trading on Friday, reaching $145.58. The stock had a trading volume of 2,297,079 shares, compared to its average volume of 3,863,773. The firm's fifty day moving average is $141.18 and its 200 day moving average is $141.25. 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 52 week low of $98.26 and a 52 week high of $156.35. The stock has a market cap of $78.35 billion, a price-to-earnings ratio of 19.28, a P/E/G ratio of 3.30 and a beta of 1.03.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts' consensus estimates 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 15.71% and a return on equity of 100.77%. As a group, equities analysts forecast that 3M will post 7.8 EPS 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 paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.01%. 3M's dividend payout ratio is presently 36.87%.

Insider Buying and Selling

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

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.