St. Clair Advisors LLC Takes $655,000 Position in 3M (NYSE:MMM)

St. Clair Advisors LLC purchased a new position in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,077 shares of the conglomerate's stock, valued at approximately $655,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in 3M in the 4th quarter valued at $851,000. Ensign Peak Advisors Inc boosted its holdings in 3M by 29.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock worth $82,921,000 after acquiring an additional 145,146 shares during the last quarter. Braun Stacey Associates Inc. boosted its holdings in 3M by 18.4% during the 4th quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after acquiring an additional 22,203 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its holdings in shares of 3M by 1,615.9% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate's stock worth $15,780,000 after buying an additional 115,116 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its holdings in shares of 3M by 34.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate's stock worth $1,616,000 after buying an additional 3,173 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada upped their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. boosted their target price on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, 3M presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.08.

3M Price Performance

Shares of NYSE:MMM traded down $2.00 during midday trading on Friday, reaching $147.78. 2,369,804 shares of the company's stock traded hands, compared to its average volume of 3,976,427. 3M has a 1 year low of $96.76 and a 1 year high of $156.35. The company has a market cap of $79.53 billion, a P/E ratio of 19.57, a PEG ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a fifty day simple moving average of $141.69 and a two-hundred day simple moving average of $140.14.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. Equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The company 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 1.98%. 3M's dividend payout ratio (DPR) is 36.87%.

Insider Activity at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently 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.