Umpqua Bank Buys 660 Shares of 3M (NYSE:MMM)

Umpqua Bank raised its stake in shares of 3M (NYSE:MMM) by 22.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,560 shares of the conglomerate’s stock after acquiring an additional 660 shares during the period. Umpqua Bank’s holdings in 3M were worth $488,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. D.A. Davidson & CO. raised its stake in shares of 3M by 16.2% during the 3rd 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 period. Franklin Resources Inc. raised its stake in shares of 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after purchasing an additional 178,450 shares during the period. Meyer Handelman Co. raised its stake 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 purchasing an additional 2,678 shares during the period. FMR LLC raised its stake in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. Finally, USA Financial Formulas bought a new stake in shares of 3M during the 4th quarter worth $816,000. 65.25% of the stock is currently owned by institutional investors.

3M Stock Down 0.6 %

Shares of NYSE MMM opened at $150.35 on Friday. 3M has a 12 month low of $85.62 and a 12 month high of $156.35. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $81.63 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.97. The business has a 50-day moving average of $148.35 and a 200-day moving average of $137.47.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 EPS. Sell-side analysts expect 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 was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a yield of 1.94%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is presently 38.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a report on Friday, March 7th. Bank of America lifted their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

Insider Buying and Selling at 3M

In other 3M news, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is currently owned by insiders.

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.