200 Shares in 3M (NYSE:MMM) Purchased by Curat Global LLC

Curat Global LLC acquired a new stake in 3M (NYSE:MMM) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 200 shares of the conglomerate’s stock, valued at approximately $29,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC purchased a new stake in shares of 3M in the fourth quarter valued at approximately $26,000. REAP Financial Group LLC lifted its holdings in 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 94 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in 3M in the fourth quarter valued at $27,000. Pinney & Scofield Inc. purchased a new stake in shares of 3M during the 4th quarter worth $28,000. Finally, Meeder Asset Management Inc. grew its stake in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 214 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the transaction, the executive vice president now owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the sale, the executive vice president now directly owns 6,127 shares of the company’s stock, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on MMM shares. Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Citigroup boosted their price target on 3M from $141.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, May 30th. Royal Bank of Canada raised their price objective on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, April 23rd. Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their target price on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.46.

3M Trading Down 0.5%

3M stock opened at $145.58 on Friday. The stock has a 50-day moving average price of $141.18 and a 200 day moving average price of $141.25. 3M has a 52 week low of $98.26 and a 52 week high of $156.35. The stock has a market cap of $78.35 billion, a PE ratio of 19.28, a P/E/G ratio of 3.30 and a beta of 1.03. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.01%. 3M’s dividend payout ratio is currently 36.87%.

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.