Keyvantage Wealth LLC Makes New Investment in 3M Company $MMM

Keyvantage Wealth LLC purchased a new stake in 3M Company (NYSE:MMM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,328 shares of the conglomerate’s stock, valued at approximately $202,000.

Several other institutional investors have also recently made changes to their positions in MMM. GFG Capital LLC purchased a new position in 3M in the second quarter worth approximately $28,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of 3M during the 1st quarter worth $28,000. WPG Advisers LLC acquired a new stake in shares of 3M during the 1st quarter worth about $28,000. Saudi Central Bank purchased a new stake in 3M in the 1st quarter valued at about $31,000. Finally, Investment Management Corp VA ADV boosted its stake in 3M by 173.6% during the first quarter. Investment Management Corp VA ADV now owns 301 shares of the conglomerate’s stock worth $44,000 after buying an additional 191 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MMM. Wells Fargo & Company upped their price objective on shares of 3M from $176.00 to $183.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Barclays upped their price target on 3M from $172.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Royal Bank Of Canada lifted their price objective on 3M from $120.00 to $130.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Morgan Stanley set a $160.00 price objective on 3M and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of 3M in a report on Wednesday, October 8th. Seven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average price target of $172.67.

3M Price Performance

Shares of NYSE MMM opened at $167.51 on Friday. The stock’s 50-day moving average is $159.21 and its two-hundred day moving average is $153.33. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.84 and a quick ratio of 1.40. The company has a market cap of $88.99 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.06. 3M Company has a 1-year low of $121.98 and a 1-year high of $172.85.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, February 21st. The conglomerate reported $2.45 EPS for the quarter. The business had revenue of $8.38 billion during the quarter. 3M had a return on equity of 98.47% and a net margin of 13.70%. Analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, November 14th. 3M’s dividend payout ratio (DPR) is presently 46.65%.

Insider Buying and Selling at 3M

In related news, EVP Zoe L. Dickson sold 13,826 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $169.78, for a total value of $2,347,378.28. Following the transaction, the executive vice president owned 6,162 shares of the company’s stock, valued at $1,046,184.36. This represents a 69.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark W. Murphy sold 19,061 shares of 3M stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $166.55, for a total transaction of $3,174,609.55. Following the sale, the executive vice president owned 6,594 shares in the company, valued at $1,098,230.70. This represents a 74.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 46,516 shares of company stock valued at $7,836,465. Corporate insiders own 0.34% of the company’s stock.

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.