3M (NYSE:MMM) Shares Purchased by PFG Investments LLC

PFG Investments LLC increased its stake in shares of 3M (NYSE:MMM - Free Report) by 198.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,573 shares of the conglomerate's stock after purchasing an additional 12,355 shares during the quarter. PFG Investments LLC's holdings in 3M were worth $1,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in 3M by 15.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate's stock worth $10,391,000 after buying an additional 14,775 shares during the last quarter. Shoker Investment Counsel Inc. lifted its holdings in 3M by 49.7% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate's stock worth $1,568,000 after buying an additional 5,561 shares during the last quarter. Diversified Trust Co lifted its holdings in 3M by 1.4% during the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate's stock worth $2,021,000 after buying an additional 263 shares during the last quarter. MWA Asset Management purchased a new stake in 3M during the 4th quarter worth about $1,723,000. Finally, Canada Pension Plan Investment Board purchased a new stake in 3M during the 3rd quarter worth about $11,908,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the sale, the insider now 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 through this link. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

MMM has been the subject of several research reports. Bank of America reduced their target price on 3M from $110.00 to $100.00 and set a "neutral" rating for the company in a report on Tuesday, April 2nd. Barclays reduced their target price on 3M from $126.00 to $107.00 and set an "overweight" rating for the company in a report on Tuesday, April 2nd. Citigroup boosted their target price on 3M from $95.31 to $98.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Wells Fargo & Company reduced their target price on 3M from $112.00 to $105.00 and set an "equal weight" rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reduced their price objective on 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $104.00.

3M Price Performance

Shares of MMM traded up $0.42 on Friday, reaching $91.83. The stock had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. The firm has a market capitalization of $50.82 billion, a PE ratio of -7.27, a PEG ratio of 1.74 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The firm has a 50-day moving average of $95.71 and a 200 day moving average of $97.46. 3M has a twelve month low of $71.12 and a twelve month high of $95.67.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.58%. This is a boost from 3M's previous quarterly dividend of $1.50. 3M's dividend payout ratio is currently -47.82%.

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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