3M (NYSE:MMM) Shares Bought by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lifted its holdings in shares of 3M (NYSE:MMM) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,745 shares of the conglomerate’s stock after purchasing an additional 17,211 shares during the quarter. Daymark Wealth Partners LLC’s holdings in 3M were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MMM. O Dell Group LLC lifted its holdings in shares of 3M by 6.9% during the 4th quarter. O Dell Group LLC now owns 3,402 shares of the conglomerate’s stock worth $372,000 after acquiring an additional 221 shares during the period. Optimist Retirement Group LLC purchased a new position in 3M during the fourth quarter worth approximately $1,517,000. Clarity Asset Management Inc. acquired a new position in shares of 3M in the 4th quarter valued at $359,000. Secured Retirement Advisors LLC purchased a new stake in shares of 3M during the 4th quarter valued at $373,000. Finally, Quarry LP increased its holdings in shares of 3M by 102.1% during the 4th quarter. Quarry LP now owns 1,760 shares of the conglomerate’s stock worth $192,000 after buying an additional 86,304 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity

In related news, Chairman Michael F. Roman sold 5,675 shares of the firm’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 transaction, the chairman now directly owns 174,036 shares in the company, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred on Tuesday, August 6th. The shares were 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 approximately $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Bank of America lifted their target price on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $127.64.

3M Stock Up 1.0 %

MMM stock opened at $134.75 on Friday. The company has a market capitalization of $74.57 billion, a P/E ratio of -10.59, a PEG ratio of 2.49 and a beta of 0.95. The firm has a 50 day simple moving average of $131.53 and a 200-day simple moving average of $111.44. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. 3M has a twelve month low of $71.12 and a twelve month high of $140.72.

3M (NYSE:MMM) last released its earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the previous year, the firm earned $2.17 EPS. On average, equities research analysts predict that 3M will post 7.24 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. 3M’s payout ratio is -22.01%.

3M 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.