Benjamin Edwards Inc. Has $196,000 Stake in 3M (NYSE:MMM)

Benjamin Edwards Inc. lifted its holdings in 3M (NYSE:MMM) by 2,994.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,795 shares of the conglomerate’s stock after purchasing an additional 1,737 shares during the period. Benjamin Edwards Inc.’s holdings in 3M were worth $196,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Fragasso Group Inc. increased its position in 3M by 3.8% in the 3rd quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock worth $239,000 after buying an additional 93 shares during the period. Bangor Savings Bank increased its position in 3M by 1.0% during the fourth quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock worth $1,147,000 after acquiring an additional 104 shares during the period. Allen Capital Group LLC raised its stake in 3M by 0.5% during the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after purchasing an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC boosted its holdings in 3M by 4.0% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock valued at $272,000 after purchasing an additional 111 shares during the period. Finally, Money Concepts Capital Corp grew its position in 3M by 5.3% in the 3rd quarter. Money Concepts Capital Corp now owns 2,244 shares of the conglomerate’s stock worth $210,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MMM shares. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $111.00 in a research report on Wednesday. Wells Fargo & Company cut their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Citigroup lifted their price target on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday. UBS Group increased their price objective on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their price objective on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $103.70.

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by insiders.

3M Trading Up 0.4 %

NYSE MMM traded up $0.34 during trading on Friday, reaching $97.15. 4,818,713 shares of the stock traded hands, compared to its average volume of 4,770,578. The stock’s 50-day moving average price is $96.05 and its 200 day moving average price is $97.54. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. The firm has a market cap of $53.76 billion, a price-to-earnings ratio of -7.64, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $99.70.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the company earned $1.97 EPS. Analysts predict that 3M will post 7.26 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 6.22%. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio is currently -47.48%.

3M Company Profile

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.