Revisor Wealth Management LLC Acquires Shares of 3,062 3M Company (NYSE:MMM)

Revisor Wealth Management LLC purchased a new position in shares of 3M Company (NYSE:MMM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,062 shares of the conglomerate's stock, valued at approximately $449,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MMM. Proficio Capital Partners LLC purchased a new position in 3M in the 4th quarter valued at approximately $26,000. REAP Financial Group LLC increased its stake in 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. acquired a new position in 3M in the fourth quarter valued at $27,000. Pinney & Scofield Inc. acquired a new position in 3M in the fourth quarter valued at $28,000. Finally, Curat Global LLC acquired a new position in shares of 3M during the first quarter worth about $29,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

3M Price Performance

3M stock traded down $1.75 during trading hours on Thursday, hitting $152.23. 3,182,854 shares of the stock were exchanged, compared to its average volume of 3,804,709. 3M Company has a 12 month low of $98.26 and a 12 month high of $156.35. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. The business's 50-day moving average is $146.06 and its two-hundred day moving average is $143.25. The stock has a market capitalization of $81.92 billion, a P/E ratio of 19.22, a P/E/G ratio of 3.01 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. Equities research analysts expect that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.92%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Analyst Ratings Changes

MMM has been the topic of several recent analyst reports. Citigroup upped their target price on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Royal Bank Of Canada increased their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Friday, June 27th. Barclays raised their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. 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 report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average price target of $155.83.

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.