Wealthcare Advisory Partners LLC Acquires 3,750 Shares of 3M (NYSE:MMM)

Wealthcare Advisory Partners LLC lifted its holdings in shares of 3M (NYSE:MMM) by 39.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,247 shares of the conglomerate’s stock after acquiring an additional 3,750 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in 3M were worth $1,448,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. CGC Financial Services LLC increased its position in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after buying an additional 160 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of 3M during the 3rd quarter worth approximately $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of 3M in the 3rd quarter worth approximately $37,000. VisionPoint Advisory Group LLC lifted its stake in shares of 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in shares of 3M during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MMM. Barclays reduced their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. Royal Bank of Canada lifted their target price on shares of 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Wells Fargo & Company lowered their price objective 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. Finally, Bank of America cut their target price on 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, 3M has an average rating of “Hold” and a consensus price target of $103.70.

3M Price Performance

Shares of MMM traded down $0.46 during mid-day trading on Tuesday, hitting $96.13. 1,528,280 shares of the company were exchanged, compared to its average volume of 5,837,282. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The stock has a market cap of $53.19 billion, a price-to-earnings ratio of -7.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00. The company has a 50 day moving average of $96.24 and a 200-day moving average of $97.77.

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 company had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. Analysts expect that 3M will post 7.23 EPS for the current fiscal year.

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.