TrimTabs Asset Management LLC Takes Position in 3M (NYSE:MMM)

TrimTabs Asset Management LLC purchased a new position in 3M (NYSE:MMM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,793 shares of the conglomerate’s stock, valued at approximately $1,128,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Trust Advisors LP increased its stake in shares of 3M by 6.0% during the fourth quarter. First Trust Advisors LP now owns 1,174,100 shares of the conglomerate’s stock valued at $205,221,000 after buying an additional 66,839 shares during the period. Elk River Wealth Management LLC purchased a new stake in 3M in the fourth quarter worth about $3,137,000. HighTower Advisors LLC increased its position in 3M by 23.5% in the fourth quarter. HighTower Advisors LLC now owns 582,232 shares of the conglomerate’s stock worth $101,508,000 after buying an additional 110,936 shares in the last quarter. Crawford Investment Counsel Inc. increased its position in 3M by 0.9% in the fourth quarter. Crawford Investment Counsel Inc. now owns 222,310 shares of the conglomerate’s stock worth $38,858,000 after buying an additional 2,008 shares in the last quarter. Finally, Financial Sense Advisors Inc. increased its position in 3M by 3.8% in the fourth quarter. Financial Sense Advisors Inc. now owns 29,598 shares of the conglomerate’s stock worth $5,173,000 after buying an additional 1,087 shares in the last quarter. 64.68% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the company. Credit Suisse Group increased their price target on 3M from $197.00 to $202.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $196.00 price target for the company in a research note on Thursday, January 28th. Royal Bank of Canada reissued a “hold” rating on shares of 3M in a research note on Sunday, January 24th. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and set a $205.00 price objective on the stock in a report on Wednesday, January 27th. Finally, Bank of America downgraded 3M from a “neutral” rating to an “underperform” rating and set a $170.00 price objective on the stock. in a report on Thursday, January 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $184.33.

In related news, EVP Michael G. Vale sold 30,875 shares of 3M stock in a transaction dated Friday, January 29th. The stock was sold at an average price of $175.53, for a total value of $5,419,488.75. Following the completion of the transaction, the executive vice president now owns 79,155 shares in the company, valued at approximately $13,894,077.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.42% of the company’s stock.

Shares of 3M stock traded up $0.84 during trading on Thursday, reaching $195.79. The company’s stock had a trading volume of 41,395 shares, compared to its average volume of 2,818,080. The company has a quick ratio of 1.37, a current ratio of 1.90 and a debt-to-equity ratio of 1.54. The company has a market cap of $113.44 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 1.85 and a beta of 0.92. 3M has a 1-year low of $131.12 and a 1-year high of $196.72. The company has a 50-day simple moving average of $184.96 and a two-hundred day simple moving average of $174.00.

3M (NYSE:MMM) last posted its quarterly earnings data on Monday, January 25th. The conglomerate reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.23. 3M had a return on equity of 44.77% and a net margin of 15.65%. The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter last year, the firm earned $2.15 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts anticipate that 3M will post 8.56 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 12th. Shareholders of record on Friday, February 12th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $5.92 dividend on an annualized basis and a yield of 3.02%. This is a boost from 3M’s previous quarterly dividend of $1.47. 3M’s payout ratio is currently 65.05%.

About 3M

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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