3M (NYSE:MMM) Shares Bought by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC lifted its holdings in shares of 3M (NYSE:MMMGet Rating) by 9.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,309 shares of the conglomerate’s stock after acquiring an additional 1,786 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in 3M were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in MMM. Kesler Norman & Wride LLC boosted its holdings in shares of 3M by 1.3% in the 2nd quarter. Kesler Norman & Wride LLC now owns 5,411 shares of the conglomerate’s stock valued at $700,000 after buying an additional 71 shares during the period. Venture Visionary Partners LLC boosted its stake in 3M by 0.4% during the 2nd quarter. Venture Visionary Partners LLC now owns 18,721 shares of the conglomerate’s stock valued at $2,423,000 after purchasing an additional 73 shares during the period. Cornerstone Wealth Management LLC boosted its stake in 3M by 1.5% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 4,919 shares of the conglomerate’s stock valued at $637,000 after purchasing an additional 73 shares during the period. Sfmg LLC lifted its stake in shares of 3M by 2.9% in the 2nd quarter. Sfmg LLC now owns 2,632 shares of the conglomerate’s stock worth $341,000 after acquiring an additional 73 shares during the period. Finally, Investment Advisory Services Inc. TX ADV lifted its stake in shares of 3M by 2.7% in the 1st quarter. Investment Advisory Services Inc. TX ADV now owns 2,826 shares of the conglomerate’s stock worth $421,000 after acquiring an additional 74 shares during the period. Institutional investors and hedge funds own 64.90% of the company’s stock.

Insiders Place Their Bets

In other 3M news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $126.28, for a total value of $135,245.88. Following the sale, the senior vice president now directly owns 3,313 shares in the company, valued at approximately $418,365.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the firm’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $126.28, for a total transaction of $135,245.88. Following the completion of the transaction, the senior vice president now directly owns 3,313 shares of the company’s stock, valued at approximately $418,365.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin H. Rhodes sold 5,703 shares of the firm’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the transaction, the executive vice president now directly owns 2,033 shares of the company’s stock, valued at $256,971.20. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MMM shares. StockNews.com started coverage on shares of 3M in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Sanford C. Bernstein reiterated a “mkt perform” rating and issued a $155.00 target price on shares of 3M in a report on Wednesday, August 17th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 3M from $126.00 to $127.00 in a report on Wednesday, October 26th. Royal Bank of Canada boosted their target price on shares of 3M from $107.00 to $113.00 and gave the stock an “underperform” rating in a report on Wednesday, October 26th. Finally, The Goldman Sachs Group reduced their price target on shares of 3M from $149.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 11th. Three research analysts have rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $132.93.

3M Stock Performance

NYSE:MMM traded down $0.60 during midday trading on Thursday, reaching $128.00. The stock had a trading volume of 2,349,904 shares, compared to its average volume of 2,764,610. 3M has a 1-year low of $107.07 and a 1-year high of $181.78. The firm’s fifty day simple moving average is $119.14 and its 200-day simple moving average is $131.17. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.56 and a quick ratio of 0.97. The stock has a market capitalization of $70.75 billion, a P/E ratio of 11.15, a PEG ratio of 1.32 and a beta of 1.02.

3M (NYSE:MMMGet Rating) last posted its earnings results on Tuesday, October 25th. The conglomerate reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.03. 3M had a net margin of 18.91% and a return on equity of 40.03%. The business had revenue of $8.60 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the business posted $2.45 EPS. 3M’s revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that 3M will post 10.22 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be given a $1.49 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $5.96 annualized dividend and a yield of 4.66%. 3M’s dividend payout ratio is 51.92%.

3M Profile

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3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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