Northwestern Mutual Wealth Management Co. Purchases 3,284 Shares of 3M Company $MMM

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in 3M Company by 4.5%, acquiring an additional 3,284 shares during the first quarter, bringing its total holdings to 76,111 shares valued at approximately $11.18 million.
• 3M reported $2.16 EPS for the last quarter, surpassing analysts' estimates and demonstrating a year-over-year revenue increase of 1.4%.
• The company recently declared a quarterly dividend of $0.73, which indicates a yield of 1.9% and a payout ratio of 40.61%.

Northwestern Mutual Wealth Management Co. increased its position in shares of 3M Company (NYSE:MMM - Free Report) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,111 shares of the conglomerate's stock after purchasing an additional 3,284 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in 3M were worth $11,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. REAP Financial Group LLC lifted its position 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 purchasing an additional 94 shares during the period. Pinney & Scofield Inc. bought a new stake in 3M during the fourth quarter worth about $28,000. Caitong International Asset Management Co. Ltd bought a new stake in 3M during the first quarter worth about $28,000. Curat Global LLC bought a new stake in 3M during the first quarter worth about $29,000. Finally, Intelligent Financial Strategies bought a new stake in 3M during the first quarter worth about $42,000. Institutional investors own 65.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. set a $167.00 price objective on shares of 3M in a research report on Friday, July 18th. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a report on Friday, July 18th. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Thursday, August 14th. 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, Barclays set a $170.00 target price on shares of 3M in a report on Friday, July 18th. Seven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $158.10.

3M Stock Down 1.8%

Shares of NYSE MMM opened at $155.91 on Tuesday. The company has a 50 day simple moving average of $152.22 and a 200 day simple moving average of $147.27. The firm has a market cap of $83.04 billion, a PE ratio of 21.68, a price-to-earnings-growth ratio of 3.07 and a beta of 1.05. 3M Company has a 1 year low of $121.98 and a 1 year high of $164.15. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.15. The business had revenue of $6.16 billion during 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 quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $1.93 EPS. On average, research analysts forecast that 3M Company will post 7.8 EPS for the current year.

3M Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.9%. 3M's dividend payout ratio (DPR) is presently 40.61%.

Insider Buying and Selling

In related news, insider Christian T. Goralski, Jr. sold 6,165 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the transaction, the insider owned 2,900 shares in the company, valued at $435,522. This trade represents a 68.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Theresa E. Reinseth sold 3,477 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the transaction, the chief accounting officer owned 2,561 shares of the company's stock, valued at approximately $385,763.43. This trade represents a 57.59% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is owned by company 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.

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