Vanguard Capital Wealth Advisors Makes New Investment in 3M (NYSE:MMM)

Vanguard Capital Wealth Advisors acquired a new stake in 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,654 shares of the conglomerate's stock, valued at approximately $472,000.

A number of other large investors also recently bought and sold shares of MMM. Assenagon Asset Management S.A. boosted its position in shares of 3M by 78.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 40,029 shares of the conglomerate's stock worth $5,167,000 after buying an additional 17,564 shares during the period. Merit Financial Group LLC lifted its stake in 3M by 106.8% during the 4th quarter. Merit Financial Group LLC now owns 18,004 shares of the conglomerate's stock worth $2,324,000 after acquiring an additional 9,299 shares in the last quarter. Brooklyn Investment Group boosted its holdings in 3M by 23.3% during the 4th quarter. Brooklyn Investment Group now owns 550 shares of the conglomerate's stock valued at $71,000 after acquiring an additional 104 shares during the period. HB Wealth Management LLC grew its position in 3M by 13.2% in the 4th quarter. HB Wealth Management LLC now owns 23,489 shares of the conglomerate's stock valued at $3,032,000 after acquiring an additional 2,734 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in 3M by 1.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 15,636 shares of the conglomerate's stock valued at $2,018,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Down 1.3%

NYSE MMM traded down $2.00 during trading on Friday, reaching $147.78. 2,369,804 shares of the company's stock were exchanged, compared to its average volume of 3,981,946. The company has a 50 day moving average price of $141.69 and a two-hundred day moving average price of $140.18. The stock has a market cap of $79.53 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 3M has a 1 year low of $96.76 and a 1 year high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid 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 is presently 36.87%.

Analyst Ratings Changes

Several research firms have recently commented on MMM. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. JPMorgan Chase & Co. increased their target price on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. 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 research report on Thursday, March 6th. Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Finally, Citigroup reduced their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.08.

Insider Buying and Selling

In other news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.