PYA Waltman Capital LLC Makes New Investment in 3M (NYSE:MMM)

PYA Waltman Capital LLC purchased a new position in 3M (NYSE:MMMGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 563 shares of the conglomerate’s stock, valued at approximately $84,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Meitav Dash Investments Ltd. acquired a new stake in shares of 3M in the first quarter worth about $363,000. Lindenwold Advisors increased its stake in shares of 3M by 4.4% in the first quarter. Lindenwold Advisors now owns 10,612 shares of the conglomerate’s stock worth $1,580,000 after purchasing an additional 448 shares during the period. ICICI Prudential Asset Management Co Ltd bought a new position in shares of 3M in the first quarter worth about $5,967,000. Perennial Investment Advisors LLC increased its stake in shares of 3M by 44.9% in the first quarter. Perennial Investment Advisors LLC now owns 1,974 shares of the conglomerate’s stock worth $295,000 after purchasing an additional 612 shares during the period. Finally, WealthTrust Axiom LLC increased its stake in shares of 3M by 5.1% in the first quarter. WealthTrust Axiom LLC now owns 3,097 shares of the conglomerate’s stock worth $461,000 after purchasing an additional 151 shares during the period. Institutional investors and hedge funds own 67.22% of the company’s stock.

Insider Transactions at 3M

In other news, insider Michael G. Vale sold 36,771 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $143.26, for a total value of $5,267,813.46. Following the transaction, the insider now directly owns 65,321 shares of the company’s stock, valued at approximately $9,357,886.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 3M news, insider Michael G. Vale sold 36,771 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $143.26, for a total transaction of $5,267,813.46. Following the transaction, the insider now owns 65,321 shares of the company’s stock, valued at approximately $9,357,886.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mojdeh Poul sold 1,634 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $151.68, for a total value of $247,845.12. Following the transaction, the insider now directly owns 7,637 shares in the company, valued at approximately $1,158,380.16. The disclosure for this sale can be found here. Insiders have sold 41,465 shares of company stock valued at $5,956,664 in the last three months. 0.34% of the stock is owned by corporate insiders.

3M Trading Down 0.5 %

MMM stock opened at $147.41 on Friday. 3M has a 1-year low of $125.60 and a 1-year high of $202.77. The firm has a market cap of $83.96 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.50 and a beta of 0.97. The business’s 50 day moving average is $136.16 and its 200-day moving average is $146.39. The company has a current ratio of 1.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.01.

3M (NYSE:MMMGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.01. 3M had a return on equity of 39.11% and a net margin of 11.83%. The company had revenue of $8.70 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the company posted $2.59 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts anticipate that 3M will post 10.4 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 12th. Stockholders of record on Friday, May 20th were issued a $1.49 dividend. This represents a $5.96 annualized dividend and a dividend yield of 4.04%. The ex-dividend date was Thursday, May 19th. 3M’s payout ratio is currently 83.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MMM. Argus lowered 3M from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. TheStreet lowered 3M from a “b-” rating to a “c+” rating in a research note on Wednesday, June 29th. Morgan Stanley boosted their price target on 3M from $126.00 to $131.00 and gave the company an “underweight” rating in a research note on Wednesday, July 27th. Jefferies Financial Group lowered their price target on 3M from $161.00 to $145.00 in a research note on Thursday, June 16th. Finally, UBS Group began coverage on 3M in a research note on Tuesday, July 26th. They set a “reduce” rating on the stock. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $152.00.

3M Company 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.

See Also

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

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