6,792 Shares in 3M (NYSE:MMM) Bought by Parr Mcknight Wealth Management Group LLC

Parr Mcknight Wealth Management Group LLC acquired a new position in 3M (NYSE:MMM - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,792 shares of the conglomerate's stock, valued at approximately $877,000.

Several other large investors have also modified their holdings of MMM. Simon Quick Advisors LLC lifted its position in shares of 3M by 47.2% during the fourth quarter. Simon Quick Advisors LLC now owns 3,316 shares of the conglomerate's stock worth $428,000 after purchasing an additional 1,063 shares during the last quarter. Advisory Alpha LLC bought a new position in shares of 3M during the fourth quarter worth about $215,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after purchasing an additional 19,552 shares during the last quarter. Secure Asset Management LLC bought a new position in shares of 3M during the fourth quarter worth about $212,000. Finally, Apeiron RIA LLC lifted its position in shares of 3M by 9.9% during the fourth quarter. Apeiron RIA LLC now owns 1,717 shares of the conglomerate's stock worth $222,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Analysts Set New Price Targets

MMM has been the topic of several research reports. JPMorgan Chase & Co. increased their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Citigroup dropped their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada raised their price target 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. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 24th. Finally, Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $152.08.

3M Price Performance

Shares of 3M stock traded up $0.64 on Thursday, hitting $149.30. The company had a trading volume of 1,008,560 shares, compared to its average volume of 3,958,679. The business has a 50-day simple moving average of $141.51 and a 200-day simple moving average of $140.45. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market cap of $80.35 billion, a PE ratio of 19.77, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 52 week low of $96.76 and a 52 week high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analysts' expectations 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 fiscal year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. 3M's payout ratio is 36.87%.

Insider Buying and Selling

In other news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction on 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 now owns 6,127 shares in the company, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm'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 now owns 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

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.