MWA Asset Management Invests $1.72 Million in 3M (NYSE:MMM)

MWA Asset Management purchased a new position in 3M (NYSE:MMM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,759 shares of the conglomerate's stock, valued at approximately $1,723,000. 3M makes up about 1.4% of MWA Asset Management's portfolio, making the stock its 19th largest holding.

Several other institutional investors have also modified their holdings of the business. Fragasso Group Inc. increased its position in shares of 3M by 3.8% in the third quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate's stock worth $239,000 after acquiring an additional 93 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in 3M by 1.2% during the 1st quarter. Orion Portfolio Solutions LLC now owns 7,941 shares of the conglomerate's stock valued at $1,182,000 after purchasing an additional 98 shares in the last quarter. McIlrath & Eck LLC grew its holdings in 3M by 13.3% during the 4th quarter. McIlrath & Eck LLC now owns 836 shares of the conglomerate's stock valued at $100,000 after purchasing an additional 98 shares in the last quarter. Vestcor Inc grew its holdings in 3M by 0.8% during the 4th quarter. Vestcor Inc now owns 13,133 shares of the conglomerate's stock valued at $1,575,000 after purchasing an additional 102 shares in the last quarter. Finally, Bollard Group LLC grew its holdings in 3M by 2.0% during the 2nd quarter. Bollard Group LLC now owns 5,191 shares of the conglomerate's stock valued at $520,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Mizuho reaffirmed a "neutral" rating and set a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Royal Bank of Canada lowered their price target on shares of 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a report on Tuesday. Bank of America lowered their price target on shares of 3M from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday. Wells Fargo & Company lowered their price target on shares of 3M from $112.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, January 24th. Finally, StockNews.com started coverage on shares of 3M in a report on Thursday. They set a "buy" rating for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, 3M has an average rating of "Hold" and an average price target of $104.10.

3M Stock Performance

Shares of 3M stock traded up $0.51 during trading hours on Friday, reaching $91.05. The company's stock had a trading volume of 3,513,555 shares, compared to its average volume of 6,230,245. The company's 50 day simple moving average is $96.36 and its 200 day simple moving average is $97.54. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. 3M has a one year low of $71.12 and a one year high of $95.67. The stock has a market cap of $50.38 billion, a P/E ratio of -7.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company had revenue of $8.01 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the firm posted $2.28 EPS. The company's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, analysts expect that 3M will post 9.37 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from 3M's previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.63%. 3M's dividend payout ratio (DPR) is currently -47.82%.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.