Natixis Advisors LLC Acquires 18,122 Shares of 3M Company (NYSE:MMM)

Key Points

• Natixis Advisors LLC increased its stake in 3M Company by 11.8%, acquiring an additional 18,122 shares in the first quarter, bringing its total holdings to 172,012 shares valued at approximately $25.3 million.
• 3M reported earnings of $2.16 per share for the last quarter, exceeding analysts' expectations of $2.01, with revenue reaching $6.16 billion, a 1.4% increase compared to the previous year.
• The company declared a quarterly dividend of $0.73 per share, resulting in an annualized dividend yield of 2.0%, and its current dividend payout ratio stands at 40.61%.

Natixis Advisors LLC lifted its position in shares of 3M Company (NYSE:MMM - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,012 shares of the conglomerate's stock after buying an additional 18,122 shares during the period. Natixis Advisors LLC's holdings in 3M were worth $25,262,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MMM. REAP Financial Group LLC boosted its position in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after buying an additional 94 shares during the last quarter. Pinney & Scofield Inc. acquired a new position in 3M in the fourth quarter worth approximately $28,000. Curat Global LLC purchased a new position in 3M during the 1st quarter worth approximately $29,000. Intelligent Financial Strategies purchased a new position in 3M during the 1st quarter worth approximately $42,000. Finally, Investment Management Corp VA ADV boosted its stake in shares of 3M by 173.6% during the 1st quarter. Investment Management Corp VA ADV now owns 301 shares of the conglomerate's stock valued at $44,000 after buying an additional 191 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on MMM. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Tuesday, July 29th. Barclays set a $170.00 price target on shares of 3M in a research report on Friday, July 18th. Wells Fargo & Company restated an "overweight" rating on shares of 3M in a report on Friday, July 18th. Citigroup increased their target price on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. 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 given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $158.10.

3M Stock Performance

Shares of NYSE MMM traded down $4.84 during mid-day trading on Friday, reaching $144.38. 4,074,208 shares of the company were exchanged, compared to its average volume of 4,251,674. 3M Company has a twelve month low of $119.31 and a twelve month high of $164.15. The company has a quick ratio of 1.20, a current ratio of 1.72 and a debt-to-equity ratio of 2.87. The company's 50-day simple moving average is $149.78 and its 200-day simple moving average is $146.76. The stock has a market capitalization of $76.90 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.79 and a beta of 1.05.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The firm's revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.93 EPS. As a group, research analysts predict that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors 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 dividend yield of 2.0%. 3M's payout ratio is presently 40.61%.

Insiders Place Their Bets

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the company'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 transaction, the executive vice president owned 31,372 shares in the company, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president owned 6,127 shares of the company's stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by 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.