5,685 Shares in 3M Company $MMM Acquired by Ransom Advisory Ltd

Key Points

• Ransom Advisory Ltd has made a new investment in 3M Company, purchasing 5,685 shares valued at approximately $835,000.
• Several institutional investors, including Invesco Ltd. and UBS AM, have increased their stakes in 3M, with hedge funds now owning 65.25% of the stock.
• 3M reported a quarterly earnings per share (EPS) of $2.16, exceeding analysts' estimates by $0.15, along with a net margin of 16.01% for the quarter.

Ransom Advisory Ltd acquired a new position in 3M Company (NYSE:MMM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,685 shares of the conglomerate's stock, valued at approximately $835,000.

Several other hedge funds and other institutional investors have also modified their holdings of MMM. Brighton Jones LLC grew its stake in shares of 3M by 26.6% in the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock worth $1,149,000 after acquiring an additional 1,872 shares during the last quarter. Bison Wealth LLC boosted its stake in 3M by 10.2% during the fourth quarter. Bison Wealth LLC now owns 2,751 shares of the conglomerate's stock worth $355,000 after buying an additional 255 shares in the last quarter. Lighthouse Investment Partners LLC increased its holdings in 3M by 141.7% in the 4th quarter. Lighthouse Investment Partners LLC now owns 58,000 shares of the conglomerate's stock valued at $7,487,000 after buying an additional 34,000 shares during the period. Lazard Asset Management LLC increased its holdings in 3M by 46.8% in the 4th quarter. Lazard Asset Management LLC now owns 313,892 shares of the conglomerate's stock valued at $40,519,000 after buying an additional 100,140 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 3M by 7.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,300 shares of the conglomerate's stock valued at $9,591,000 after buying an additional 4,964 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Price Performance

NYSE MMM traded down $1.54 on Friday, hitting $157.93. 2,865,088 shares of the company were exchanged, compared to its average volume of 2,572,781. The firm has a 50 day moving average of $154.05 and a two-hundred day moving average of $147.97. The company has a market cap of $84.12 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.90 and a beta of 1.04. The company has a current ratio of 1.72, a quick ratio of 1.20 and a debt-to-equity ratio of 2.87. 3M Company has a 1-year low of $121.98 and a 1-year high of $164.15.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.15. The business had revenue of $6.16 billion for the quarter, compared to the consensus estimate 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 in the prior year, the company earned $1.93 EPS. On average, equities analysts predict that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 25th will be given a dividend of $0.73 per share. The ex-dividend date is Monday, August 25th. This represents a $2.92 annualized dividend and a yield of 1.8%. 3M's dividend payout ratio is 40.61%.

Wall Street Analysts Forecast Growth

MMM has been the topic of several analyst reports. Barclays set a $170.00 price target 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 Saturday, August 30th. Citigroup boosted their price target on shares of 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a report on Friday, May 30th. Wells Fargo & Company reissued an "overweight" rating on shares of 3M in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. set a $167.00 target price on shares of 3M in a research note on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.78.

Insider Activity

In related news, CAO Theresa E. Reinseth sold 3,477 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the transaction, the chief accounting officer owned 2,561 shares in the company, valued at $385,763.43. This represents a 57.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the sale, the insider directly owned 2,900 shares of the company's stock, valued at $435,522. This represents a 68.01% 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 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.