Taylor Hoffman Capital Management LLC Invests $263,000 in 3M (NYSE:MMM)

Taylor Hoffman Capital Management LLC acquired a new stake in shares of 3M (NYSE:MMM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,035 shares of the conglomerate's stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Investors Asset Management of Georgia Inc. GA ADV boosted its holdings in shares of 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after purchasing an additional 67 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of 3M by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after purchasing an additional 70 shares during the period. LaSalle St. Investment Advisors LLC boosted its holdings in shares of 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after purchasing an additional 71 shares during the period. Gilbert & Cook Inc. boosted its holdings in shares of 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after purchasing an additional 73 shares during the period. Finally, Childress Capital Advisors LLC boosted its holdings in shares of 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after purchasing an additional 76 shares during the period. 65.25% of the stock is owned by institutional investors.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 6,127 shares of the company's stock, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

3M Stock Down 1.3%

Shares of NYSE:MMM traded down $2.00 on Friday, hitting $147.78. 2,369,804 shares of the company traded hands, compared to its average volume of 3,976,427. The stock has a 50 day simple moving average of $141.69 and a 200-day simple moving average of $140.14. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company has a market cap of $79.53 billion, a PE ratio of 19.57, 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 released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. As a group, research analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.98%. 3M's payout ratio is currently 36.87%.

Analyst Ratings Changes

MMM has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. Royal Bank of Canada lifted their price objective 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 objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, Citigroup cut their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $152.08.

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.