MBB Public Markets I LLC Invests $305,000 in 3M Company $MMM

Key Points

• MBB Public Markets I LLC has acquired a new position in 3M Company, purchasing 2,075 shares valued at approximately $305,000 during the first quarter.
• Insider trading activity indicates significant selling, with insider Christian T. Goralski, Jr. selling over 6,000 shares worth nearly $926,000, a decrease of 68.01% in their position.
• 3M reported $2.16 earnings per share (EPS) for the latest quarter, exceeding the consensus estimate of $2.01 and showing a 1.4% increase in revenue year-over-year.

MBB Public Markets I LLC acquired a new position in shares of 3M Company (NYSE:MMM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,075 shares of the conglomerate's stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. REAP Financial Group LLC boosted its stake in 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 during the last quarter. Pinney & Scofield Inc. acquired a new position in 3M during the fourth quarter worth $28,000. Caitong International Asset Management Co. Ltd acquired a new position in 3M during the first quarter worth $28,000. WPG Advisers LLC acquired a new position in 3M during the first quarter worth $28,000. Finally, Curat Global LLC acquired a new position in 3M during the first quarter worth $29,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Buying and Selling at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the sale, the insider owned 2,900 shares in the company, valued at approximately $435,522. The trade was a 68.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Theresa E. Reinseth sold 3,477 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total value of $523,740.51. Following the completion of the sale, the chief accounting officer owned 2,561 shares in the company, valued at $385,763.43. This represents a 57.59% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MMM. Barclays set a $170.00 price objective on 3M in a research note on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 target price on 3M in a research report on Friday, July 18th. Citigroup lifted their target price on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, May 30th. Wells Fargo & Company restated an "overweight" rating on shares of 3M in a research report on Friday, July 18th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, August 30th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, 3M currently has a consensus rating of "Moderate Buy" and an average price target of $161.78.

3M Price Performance

MMM stock opened at $153.47 on Thursday. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. The company has a market capitalization of $81.74 billion, a PE ratio of 21.34, a P/E/G ratio of 2.78 and a beta of 1.04. 3M Company has a 12-month low of $121.98 and a 12-month high of $164.15. The business's fifty day moving average price is $153.80 and its 200 day moving average price is $147.79.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.15. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.09 billion. 3M had a return on equity of 96.48% and a net margin of 16.01%.The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. On average, sell-side analysts anticipate that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Monday, August 25th. 3M's payout ratio is currently 40.61%.

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.

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