Northstar Group Inc. Makes New $262,000 Investment in 3M (NYSE:MMM)

Northstar Group Inc. acquired a new stake in 3M (NYSE:MMM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,787 shares of the conglomerate's stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairvoy Private Wealth LLC raised its position in shares of 3M by 35.5% in the first quarter. Fairvoy Private Wealth LLC now owns 7,811 shares of the conglomerate's stock valued at $1,147,000 after purchasing an additional 2,047 shares during the period. Optas LLC bought a new stake in shares of 3M in the first quarter valued at about $208,000. Brighton Jones LLC grew its stake in shares of 3M by 10.7% in the first quarter. Brighton Jones LLC now owns 9,847 shares of the conglomerate's stock valued at $1,446,000 after acquiring an additional 949 shares in the last quarter. Exchange Traded Concepts LLC increased its position in 3M by 13.6% during the first quarter. Exchange Traded Concepts LLC now owns 85,847 shares of the conglomerate's stock worth $12,607,000 after acquiring an additional 10,268 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in 3M by 4,540.6% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 71,279 shares of the conglomerate's stock worth $10,468,000 after purchasing an additional 69,743 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Activity

In other news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was 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 $913,045.54. The trade was a 56.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the sale, 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. Insiders own 0.34% of the company's stock.

3M Price Performance

NYSE MMM traded up $2.72 during trading on Monday, hitting $145.04. 1,680,470 shares of the company's stock were exchanged, compared to its average volume of 3,839,811. The company has a market cap of $78.06 billion, a PE ratio of 19.21, a P/E/G ratio of 3.30 and a beta of 1.03. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a fifty-two week low of $98.26 and a fifty-two week high of $156.35. The stock's 50 day moving average price is $142.25 and its two-hundred day moving average price is $141.90.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Research analysts expect that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 2.01%. 3M's dividend payout ratio (DPR) is currently 36.87%.

Analyst Ratings Changes

MMM has been the topic of several recent research reports. Barclays raised their target price on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Citigroup increased their price target on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. raised their price objective on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Wednesday, June 11th. Finally, Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, 3M presently has an average rating of "Moderate Buy" and a consensus target price of $155.83.

3M 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.