BayBridge Capital Group LLC Buys 244 Shares of 3M (NYSE:MMM)

BayBridge Capital Group LLC boosted its position in shares of 3M (NYSE:MMM) by 2.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,244 shares of the conglomerate’s stock after acquiring an additional 244 shares during the period. 3M accounts for about 1.1% of BayBridge Capital Group LLC’s holdings, making the stock its 23rd biggest position. BayBridge Capital Group LLC’s holdings in 3M were worth $1,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. Daymark Wealth Partners LLC raised its position in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares in the last quarter. CWM LLC increased its stake in 3M by 16.5% in the 3rd quarter. CWM LLC now owns 47,161 shares of the conglomerate’s stock worth $6,447,000 after acquiring an additional 6,671 shares during the last quarter. Marcum Wealth LLC purchased a new stake in shares of 3M in the 3rd quarter valued at about $213,000. Wedmont Private Capital boosted its position in shares of 3M by 19.5% during the 3rd quarter. Wedmont Private Capital now owns 2,474 shares of the conglomerate’s stock valued at $334,000 after acquiring an additional 404 shares during the last quarter. Finally, Quotient Wealth Partners LLC grew its holdings in shares of 3M by 7.0% during the third quarter. Quotient Wealth Partners LLC now owns 3,475 shares of the conglomerate’s stock worth $475,000 after purchasing an additional 226 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MMM. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, February 1st. Mizuho increased their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Down 1.6 %

Shares of 3M stock opened at $149.90 on Friday. The company’s 50 day moving average price is $136.78 and its 200-day moving average price is $132.21. 3M has a 52-week low of $75.40 and a 52-week high of $155.00. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock has a market capitalization of $81.63 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. Equities research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.95%. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is 37.09%.

Insider Transactions at 3M

In related news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the transaction, the chairman now directly owns 180,895 shares of the company’s stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of 3M stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is currently owned by insiders.

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.