Aptus Capital Advisors LLC Has $527,000 Holdings in 3M (NYSE:MMM)

Aptus Capital Advisors LLC boosted its holdings in 3M (NYSE:MMM) by 16.2% in the second quarter, HoldingsChannel reports. The firm owned 5,160 shares of the conglomerate’s stock after purchasing an additional 721 shares during the period. Aptus Capital Advisors LLC’s holdings in 3M were worth $527,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tributary Capital Management LLC bought a new stake in shares of 3M during the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the period. MFA Wealth Advisors LLC bought a new position in shares of 3M during the 2nd quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new stake in 3M in the first quarter worth $32,000. Finally, TruNorth Capital Management LLC bought a new stake in 3M in the 2nd quarter valued at about $33,000. 65.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

MMM has been the subject of several analyst reports. StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Vertical Research raised shares of 3M from a “hold” rating to a “buy” rating and increased their target price for the company from $92.00 to $140.00 in a report on Thursday, May 16th. Barclays upped their price target on shares of 3M from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Finally, Bank of America raised their price objective on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, 3M presently has an average rating of “Moderate Buy” and a consensus target price of $124.38.

3M Stock Up 1.3 %

MMM stock opened at $134.69 on Tuesday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a one year low of $71.12 and a one year high of $134.99. The firm’s fifty day moving average is $116.20 and its 200 day moving average is $104.07. The firm has a market cap of $74.53 billion, a PE ratio of -10.59, a P/E/G ratio of 2.49 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter last year, the firm posted $2.17 EPS. On average, research analysts forecast that 3M will post 7.2 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Monday, August 26th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Monday, August 26th. 3M’s dividend payout ratio (DPR) is -22.01%.

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.