Oak Thistle LLC Acquires New Holdings in 3M Company (NYSE:MMM)

Oak Thistle LLC bought a new position in 3M Company (NYSE:MMM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 25,260 shares of the conglomerate's stock, valued at approximately $3,710,000. 3M comprises about 0.7% of Oak Thistle LLC's portfolio, making the stock its 19th largest position.

A number of other institutional investors also recently modified their holdings of the stock. LaSalle St. Investment Advisors LLC raised its stake in shares of 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after acquiring an additional 71 shares during the last quarter. TCV Trust & Wealth Management Inc. raised its stake in shares of 3M by 1.1% during the first quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock worth $954,000 after buying an additional 73 shares during the last quarter. Cahaba Wealth Management Inc. raised its stake in shares of 3M by 1.4% during the first quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock worth $819,000 after buying an additional 75 shares during the last quarter. Altman Advisors Inc. raised its stake in shares of 3M by 0.5% during the first quarter. Altman Advisors Inc. now owns 16,690 shares of the conglomerate's stock worth $2,318,000 after buying an additional 76 shares during the last quarter. Finally, NBT Bank N A NY raised its stake in shares of 3M by 0.8% during the first quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock worth $1,431,000 after buying an additional 79 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president directly 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 disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

3M Stock Performance

NYSE MMM traded up $1.97 on Friday, hitting $151.27. 2,776,480 shares of the stock were exchanged, compared to its average volume of 3,898,101. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20. The business's fifty day moving average is $150.03 and its 200 day moving average is $146.02. 3M Company has a 52 week low of $112.68 and a 52 week high of $164.15. The company has a market capitalization of $80.57 billion, a PE ratio of 21.04, a P/E/G ratio of 3.04 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share 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 company's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 earnings per share. Research analysts anticipate that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.93%. 3M's payout ratio is presently 40.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MMM shares. Barclays set a $170.00 price target on shares of 3M in a research note on Friday, July 18th. JPMorgan Chase & Co. set a $167.00 target price on shares of 3M in a research note on Friday, July 18th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Saturday, July 12th. Wells Fargo & Company reaffirmed an "overweight" rating on shares of 3M in a research note on Friday, July 18th. Finally, Royal Bank Of Canada upped their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $156.33.

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.