Regatta Capital Group LLC Makes New $221,000 Investment in 3M (NYSE:MMM)

Regatta Capital Group LLC acquired a new position in shares of 3M (NYSE:MMM) during the 1st quarter, Holdings Channel reports. The firm acquired 1,504 shares of the conglomerate’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of 3M by 1.3% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock worth $665,000 after purchasing an additional 70 shares during the period. LaSalle St. Investment Advisors LLC boosted its stake in 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate’s stock worth $381,000 after buying an additional 71 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in 3M by 5.3% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate’s stock valued at $196,000 after buying an additional 77 shares during the period. Finally, TFC Financial Management Inc. raised its stake in shares of 3M by 1.1% in the 4th quarter. TFC Financial Management Inc. now owns 7,410 shares of the conglomerate’s stock valued at $957,000 after buying an additional 82 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Trading Down 0.5%

Shares of MMM stock opened at $145.58 on Monday. The company has a market capitalization of $78.35 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. 3M has a 52-week low of $98.26 and a 52-week high of $156.35. The business’s fifty day moving average is $141.18 and its 200 day moving average is $141.44. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

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

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 yield of 2.01%. 3M’s payout ratio is presently 36.87%.

Insiders Place Their Bets

In other news, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 31,372 shares of the company’s stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MMM. Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada lifted their price objective on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, April 23rd. Barclays raised their target price on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research note on Saturday, May 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.46.

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.