Tectonic Advisors LLC Invests $543,000 in 3M Company (NYSE:MMM)

Tectonic Advisors LLC purchased a new stake in 3M Company (NYSE:MMM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,695 shares of the conglomerate's stock, valued at approximately $543,000.

Several other large investors have also added to or reduced their stakes in MMM. REAP Financial Group LLC boosted its position in shares of 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after buying an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new position in 3M during the 4th quarter valued at $27,000. Pinney & Scofield Inc. bought a new position in 3M during the 4th quarter valued at $28,000. Curat Global LLC purchased a new position in 3M during the 1st quarter worth $29,000. Finally, Meeder Asset Management Inc. grew its stake in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction dated Friday, May 23rd. The stock was 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 in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Barclays raised their target price on 3M from $164.00 to $170.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada boosted their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday. Finally, Citigroup lifted their price target on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.33.

3M Stock Performance

Shares of NYSE:MMM traded up $0.92 during midday trading on Wednesday, reaching $157.51. 3,194,531 shares of the company traded hands, compared to its average volume of 3,796,077. 3M Company has a 12 month low of $100.87 and a 12 month high of $159.47. The firm's fifty day moving average price is $148.94 and its two-hundred day moving average price is $144.96. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The firm has a market capitalization of $84.77 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.07 and a beta of 1.02.

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

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.85%. 3M's dividend payout ratio (DPR) is currently 36.87%.

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.