Vanguard Capital Wealth Advisors Invests $472,000 in 3M (NYSE:MMM)

Vanguard Capital Wealth Advisors purchased a new stake in 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,654 shares of the conglomerate's stock, valued at approximately $472,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in 3M in the 4th quarter valued at $636,767,000. Invesco Ltd. raised its stake in 3M by 51.6% during the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock worth $576,845,000 after acquiring an additional 1,520,619 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of 3M in the 4th quarter worth about $175,110,000. Capital World Investors raised its stake in shares of 3M by 25.4% in the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock valued at $794,410,000 after acquiring an additional 1,248,093 shares during the last quarter. Finally, Amundi boosted its stake in 3M by 55.7% in the fourth quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock worth $337,815,000 after purchasing an additional 898,244 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on MMM shares. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada boosted 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. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 10th. Bank of America boosted their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, Citigroup dropped their target price 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 assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and a consensus price target of $152.08.

3M Stock Performance

3M stock opened at $154.11 on Tuesday. The stock has a market cap of $82.94 billion, a price-to-earnings ratio of 20.41, 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 stock's 50 day simple moving average is $141.68 and its two-hundred day simple moving average is $139.66. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $5.78 billion. As a group, analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.89%. 3M's payout ratio is 36.87%.

Insider Transactions at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares of the company's stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company's stock.

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.

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