Allred Capital Management LLC Increases Holdings in 3M (NYSE:MMM)

Allred Capital Management LLC boosted its position in shares of 3M (NYSE:MMM) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,445 shares of the conglomerate’s stock after purchasing an additional 123 shares during the quarter. Allred Capital Management LLC’s holdings in 3M were worth $1,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Financial Life Planners bought a new stake in shares of 3M in the fourth quarter valued at about $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M in the 4th quarter valued at about $26,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M in the 4th quarter worth approximately $27,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after buying an additional 214 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Stock Down 0.2 %

Shares of MMM stock opened at $130.16 on Friday. 3M has a fifty-two week low of $90.65 and a fifty-two week high of $156.35. The firm has a market capitalization of $70.20 billion, a PE ratio of 17.24, a P/E/G ratio of 3.30 and a beta of 1.01. 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’s 50-day simple moving average is $144.93 and its 200-day simple moving average is $138.26.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 EPS. Equities analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.24%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M’s dividend payout ratio is presently 38.68%.

Wall Street Analyst Weigh In

MMM has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Barclays dropped their price objective on 3M from $165.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Bank of America boosted their target price on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Citigroup lowered their price target on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Tuesday, April 8th. Two research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.47.

Insiders Place Their Bets

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % 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 valued at $17,163,446. Company insiders own 0.48% of the company’s stock.

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.