Terril Brothers Inc. Purchases New Holdings in 3M (NYSE:MMM)

Terril Brothers Inc. purchased a new stake in shares of 3M (NYSE:MMM) in the 4th quarter, Holdings Channel reports. The fund purchased 40,475 shares of the conglomerate’s stock, valued at approximately $5,225,000. 3M accounts for about 1.6% of Terril Brothers Inc.’s holdings, making the stock its 18th biggest position.

Several other large investors have also recently bought and sold shares of MMM. First Trust Direct Indexing L.P. boosted its position in 3M by 9.3% during the third quarter. First Trust Direct Indexing L.P. now owns 13,279 shares of the conglomerate’s stock valued at $1,815,000 after purchasing an additional 1,131 shares during the last quarter. Financial Advocates Investment Management raised its stake in 3M by 33.6% in the third quarter. Financial Advocates Investment Management now owns 5,645 shares of the conglomerate’s stock valued at $772,000 after buying an additional 1,421 shares during the period. Catalyst Financial Partners LLC bought a new stake in 3M in the third quarter valued at approximately $250,000. LCM Capital Management Inc bought a new stake in 3M in the third quarter valued at approximately $246,000. Finally, Summit Wealth Partners LLC raised its stake in 3M by 57.6% in the third quarter. Summit Wealth Partners LLC now owns 3,115 shares of the conglomerate’s stock valued at $426,000 after buying an additional 1,139 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Price Performance

3M stock opened at $155.25 on Friday. The stock’s fifty day moving average price is $142.73 and its two-hundred day moving average price is $135.42. 3M has a one year low of $75.40 and a one year high of $155.50. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm has a market cap of $84.29 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 3.30 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same quarter last year, the company earned $2.42 EPS. The company’s revenue was down 25.0% on a year-over-year basis. As a group, research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the sale, the chairman now owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Barclays upped their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Wednesday, February 19th. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research note on Thursday. Bank of America upped their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.87.

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.