3M Company $MMM Shares Bought by Hoese & Co LLP

Hoese & Co LLP raised its holdings in 3M Company (NYSE:MMM) by 19.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,319 shares of the conglomerate’s stock after acquiring an additional 219 shares during the quarter. Hoese & Co LLP’s holdings in 3M were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in 3M in the 1st quarter valued at about $28,000. WPG Advisers LLC acquired a new stake in 3M in the 1st quarter valued at about $28,000. GFG Capital LLC acquired a new stake in 3M in the 2nd quarter valued at about $28,000. Saudi Central Bank acquired a new stake in 3M in the 1st quarter valued at about $31,000. Finally, Intelligent Financial Strategies acquired a new stake in 3M in the 1st quarter valued at about $42,000. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Theresa E. Reinseth sold 3,477 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $150.63, for a total value of $523,740.51. Following the transaction, the chief accounting officer owned 2,561 shares in the company, valued at approximately $385,763.43. This represents a 57.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,165 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $150.18, for a total value of $925,859.70. Following the completion of the transaction, the insider owned 2,900 shares in the company, valued at $435,522. This represents a 68.01% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MMM. Weiss Ratings reissued a “buy (b-)” rating on shares of 3M in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on shares of 3M from $175.00 to $178.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 3M from $177.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Barclays set a $170.00 target price on shares of 3M in a research note on Friday, July 18th. Finally, Citigroup boosted their target price on shares of 3M from $160.00 to $169.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average target price of $169.00.

3M Price Performance

Shares of MMM opened at $152.75 on Friday. The company has a market capitalization of $81.36 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 2.50 and a beta of 1.05. 3M Company has a fifty-two week low of $121.98 and a fifty-two week high of $164.15. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20. The business’s 50-day moving average is $155.02 and its 200-day moving average is $148.80.

3M (NYSE:MMM) last issued its earnings results on Tuesday, February 21st. The conglomerate reported $2.45 earnings per share for the quarter. The company had revenue of $8.38 billion for the quarter. 3M had a return on equity of 96.48% and a net margin of 16.01%. Equities research analysts expect that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 25th were issued a $0.73 dividend. The ex-dividend date was Monday, August 25th. This represents a $2.92 dividend on an annualized basis and a yield of 1.9%. 3M’s dividend payout ratio is currently 40.61%.

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.