Disciplined Equity Management Inc. Purchases 180 Shares of 3M (NYSE:MMM)

Disciplined Equity Management Inc. lifted its position in shares of 3M (NYSE:MMM) by 1.2% in the 4th quarter, Holdings Channel reports. The fund owned 15,058 shares of the conglomerate’s stock after buying an additional 180 shares during the quarter. 3M accounts for approximately 1.1% of Disciplined Equity Management Inc.’s holdings, making the stock its 13th largest position. Disciplined Equity Management Inc.’s holdings in 3M were worth $1,646,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Briaud Financial Planning Inc bought a new position in 3M in the 3rd quarter worth about $35,000. Authentikos Wealth Advisory LLC bought a new position in 3M in the 3rd quarter worth about $37,000. CGC Financial Services LLC boosted its stake in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. VisionPoint Advisory Group LLC boosted its stake in 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in shares of 3M during the 3rd quarter valued at about $44,000. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

MMM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Mizuho reiterated a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. Royal Bank of Canada dropped their price target on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average target price of $104.00.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of 3M 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 sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.38% of the company’s stock.

3M Price Performance

Shares of NYSE MMM traded down $0.98 during trading hours on Wednesday, reaching $92.02. 3,769,084 shares of the stock traded hands, compared to its average volume of 5,778,785. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The company’s 50-day simple moving average is $95.72 and its two-hundred day simple moving average is $97.39. The company has a market capitalization of $50.92 billion, a P/E ratio of -7.29, a price-to-earnings-growth ratio of 1.83 and a beta of 1.02. 3M has a 52-week low of $71.12 and a 52-week high of $95.67.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.11. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.28 EPS. Equities research analysts forecast that 3M will post 7.87 EPS 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 paid a $1.51 dividend. This is a boost from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s payout ratio is -47.82%.

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.