Campbell Wealth Management Makes New $315,000 Investment in 3M (NYSE:MMM)

Campbell Wealth Management bought a new position in 3M (NYSE:MMM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,438 shares of the conglomerate’s stock, valued at approximately $315,000.

Several other institutional investors have also modified their holdings of MMM. D.A. Davidson & CO. increased its position in 3M by 16.2% during the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after purchasing an additional 20,421 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after buying an additional 178,450 shares during the period. Meyer Handelman Co. increased its holdings in shares of 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after buying an additional 2,678 shares during the last quarter. Ballentine Partners LLC raised its position in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after buying an additional 5,210 shares during the period. Finally, Stonegate Investment Group LLC lifted its holdings in 3M by 5.6% in the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after acquiring an additional 13,473 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company’s stock.

3M Stock Down 0.1 %

Shares of NYSE MMM opened at $148.69 on Friday. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The company has a market capitalization of $80.73 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a 50-day moving average of $138.19 and a two-hundred day moving average of $133.52.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is currently 37.09%.

Analyst Ratings Changes

Several brokerages recently issued reports on MMM. Mizuho boosted their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Bank of America increased their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their price target for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

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.