Brighton Jones LLC Buys 157 Shares of 3M (NYSE:MMM)

Brighton Jones LLC raised its stake in 3M (NYSE:MMM) by 1.8% in the second quarter, Holdings Channel reports. The firm owned 8,856 shares of the conglomerate’s stock after acquiring an additional 157 shares during the quarter. Brighton Jones LLC’s holdings in 3M were worth $905,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tributary Capital Management LLC acquired a new stake in shares of 3M in the 1st quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. raised its position in 3M by 419.1% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. MFA Wealth Advisors LLC bought a new stake in 3M during the second quarter worth $28,000. Meeder Asset Management Inc. lifted its stake in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 269 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of 3M in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $150.00 in a report on Monday, July 29th. Wolfe Research upgraded 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a research note on Thursday, June 13th. Wells Fargo & Company lifted their target price on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Bank of America increased their price target on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $124.43.

3M Trading Up 0.7 %

Shares of 3M stock opened at $134.76 on Friday. 3M has a 52-week low of $71.12 and a 52-week high of $135.32. The stock has a market cap of $74.57 billion, a PE ratio of -10.59, a PEG ratio of 2.41 and a beta of 0.95. The firm has a 50-day moving average of $124.63 and a 200-day moving average of $107.80. 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 (NYSE:MMM) last announced its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same quarter in the prior year, the business posted $2.17 EPS. As a group, sell-side analysts forecast that 3M will post 7.22 EPS for the current year.

3M Announces Dividend

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

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.