Perbak Capital Partners LLP Makes New Investment in 3M (NYSE:MMM)

Perbak Capital Partners LLP purchased a new stake in 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,680 shares of the conglomerate's stock, valued at approximately $1,250,000.

Several other hedge funds have also modified their holdings of MMM. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in 3M by 1.3% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock valued at $694,000 after acquiring an additional 67 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of 3M by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after purchasing an additional 70 shares in the last quarter. LaSalle St. Investment Advisors LLC raised its position in shares of 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after purchasing an additional 71 shares during the last quarter. Gilbert & Cook Inc. raised its position in shares of 3M by 1.5% during the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after purchasing an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC lifted its stake in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after buying an additional 76 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MMM shares. Royal Bank of Canada upped their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Thursday, April 24th. Citigroup reduced their price target on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Finally, Barclays increased their price target on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $147.00.

3M Price Performance

NYSE:MMM traded down $0.92 on Thursday, reaching $137.99. The stock had a trading volume of 2,235,875 shares, compared to its average volume of 4,066,984. The company has a market capitalization of $74.26 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. 3M has a 1-year low of $95.01 and a 1-year high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock has a fifty day moving average price of $142.42 and a 200-day moving average price of $138.31.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.12%. 3M's payout ratio is currently 36.87%.

About 3M

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.