Wynn Capital LLC Buys Shares of 11,386 3M (NYSE:MMM)

Wynn Capital LLC purchased a new stake in shares of 3M (NYSE:MMM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,386 shares of the conglomerate’s stock, valued at approximately $1,245,000.

A number of other large investors also recently modified their holdings of the business. CGC Financial Services LLC grew its holdings in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares during the period. Briaud Financial Planning Inc purchased a new position in 3M in the 3rd quarter worth about $35,000. Authentikos Wealth Advisory LLC acquired a new stake in 3M during the 3rd quarter worth about $37,000. VisionPoint Advisory Group LLC boosted its position in 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in 3M during the 3rd quarter worth about $44,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Down 1.1 %

NYSE MMM traded down $0.98 during trading hours on Wednesday, hitting $92.02. 3,769,084 shares of the company traded hands, compared to its average volume of 5,778,785. 3M has a twelve month low of $71.12 and a twelve month high of $95.67. The stock has a market capitalization of $50.92 billion, a price-to-earnings ratio of -7.29, a P/E/G ratio of 1.83 and a beta of 1.02. The business’s 50-day moving average is $95.73 and its 200-day moving average is $97.43. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the previous year, the firm earned $2.28 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that 3M will post 7.87 earnings per share for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is -47.82%.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Citigroup lifted their price target on 3M from $95.31 to $98.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company reduced their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 16th. Finally, Barclays reduced their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, 3M has an average rating of “Hold” and an average price target of $104.00.

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.