Private Capital Group LLC boosted its holdings in shares of 3M Co (NYSE:MMM) by 85.5% in the first quarter, HoldingsChannel reports. The firm owned 1,269 shares of the conglomerate’s stock after acquiring an additional 585 shares during the period. Private Capital Group LLC’s holdings in 3M were worth $173,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Braun Bostich & Associates Inc. acquired a new stake in 3M during the 4th quarter valued at $30,000. IndexIQ Advisors LLC acquired a new stake in shares of 3M in the 4th quarter valued at $35,000. Tsfg LLC increased its stake in shares of 3M by 52.7% in the 1st quarter. Tsfg LLC now owns 200 shares of the conglomerate’s stock valued at $27,000 after buying an additional 69 shares during the period. Cascade Investment Advisors Inc. acquired a new stake in shares of 3M in the 1st quarter valued at $28,000. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of 3M in the 4th quarter valued at $36,000. 68.20% of the stock is owned by hedge funds and other institutional investors.

MMM has been the subject of several research reports. Gordon Haskett cut 3M from a “hold” rating to an “underperform” rating in a research note on Monday, March 30th. Credit Suisse Group lifted their target price on 3M from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating and set a $133.00 target price for the company in a research note on Thursday, April 30th. Royal Bank of Canada lifted their target price on 3M from $143.00 to $148.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Finally, Citigroup lifted their target price on 3M from $146.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $161.85.

In other news, EVP Michael G. Vale sold 6,250 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $159.17, for a total value of $994,812.50. Following the sale, the executive vice president now directly owns 53,804 shares in the company, valued at $8,563,982.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Roman sold 7,894 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $148.70, for a total value of $1,173,837.80. Following the completion of the sale, the chief executive officer now owns 57,868 shares in the company, valued at $8,604,971.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,401 shares of company stock worth $7,236,846. Corporate insiders own 0.42% of the company’s stock.

MMM stock opened at $138.69 on Friday. The business’s 50-day moving average price is $143.79 and its two-hundred day moving average price is $159.78. The company has a current ratio of 1.65, a quick ratio of 1.19 and a debt-to-equity ratio of 1.94. The firm has a market cap of $85.42 billion, a PE ratio of 16.28, a P/E/G ratio of 1.98 and a beta of 0.99. 3M Co has a 1-year low of $114.04 and a 1-year high of $187.72.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 28th. The conglomerate reported $2.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.13. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.86 billion. 3M had a return on equity of 50.24% and a net margin of 15.37%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.23 earnings per share. On average, analysts forecast that 3M Co will post 7.89 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 22nd will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $5.88 annualized dividend and a yield of 4.24%. 3M’s dividend payout ratio is presently 64.62%.

3M Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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

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