United Asset Strategies Inc. increased its stake in 3M Co (NYSE:MMM) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,675 shares of the conglomerate’s stock after purchasing an additional 100 shares during the period. United Asset Strategies Inc.’s holdings in 3M were worth $290,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV grew its position in 3M by 202.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 101 shares during the last quarter. Weaver Consulting Group bought a new position in 3M during the first quarter valued at approximately $32,000. Cordasco Financial Network grew its position in 3M by 220.0% during the first quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock valued at $33,000 after acquiring an additional 110 shares during the last quarter. Capital Financial Planning LLC bought a new position in 3M during the fourth quarter valued at approximately $34,000. Finally, Arcus Capital Partners LLC bought a new position in 3M during the second quarter valued at approximately $35,000. Institutional investors own 67.55% of the company’s stock.

In related news, insider Joaquin Delgado sold 5,400 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $169.68, for a total value of $916,272.00. Following the completion of the sale, the insider now owns 28,092 shares of the company’s stock, valued at $4,766,650.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David B. Dillon purchased 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was acquired at an average cost of $169.50 per share, with a total value of $203,400.00. Following the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at $203,400. The disclosure for this purchase can be found here. 0.83% of the stock is currently owned by company insiders.

A number of research analysts have commented on MMM shares. Morgan Stanley increased their price target on shares of 3M from $172.00 to $177.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. UBS Group reduced their price target on shares of 3M from $201.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Credit Suisse Group increased their price target on shares of 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Bank of America reduced their price target on shares of 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $183.00 price target on the stock in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. 3M presently has a consensus rating of “Hold” and an average target price of $182.54.

Shares of 3M stock traded down $1.89 on Wednesday, hitting $160.21. The stock had a trading volume of 892,756 shares, compared to its average volume of 2,790,484. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.34 and a current ratio of 1.93. 3M Co has a one year low of $158.04 and a one year high of $219.75. The firm has a market cap of $94.04 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The firm has a 50-day moving average of $171.41.

3M (NYSE:MMM) last issued its earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.16. 3M had a net margin of 15.27% and a return on equity of 55.05%. The firm had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $8.10 billion. During the same quarter last year, the business earned $2.59 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that 3M Co will post 9.29 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 16th will be issued a $1.44 dividend. This represents a $5.76 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Thursday, August 15th. 3M’s dividend payout ratio is 55.07%.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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