5,727 Shares in 3M Co (NYSE:MMM) Purchased by Arlington Financial Advisors LLC

Arlington Financial Advisors LLC purchased a new position in 3M Co (NYSE:MMM) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,727 shares of the conglomerate’s stock, valued at approximately $782,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MMM. Convergence Investment Partners LLC increased its position in shares of 3M by 4.4% during the 4th quarter. Convergence Investment Partners LLC now owns 1,414 shares of the conglomerate’s stock valued at $249,000 after purchasing an additional 60 shares during the last quarter. Cornell Pochily Investment Advisors Inc. increased its position in shares of 3M by 0.7% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 8,595 shares of the conglomerate’s stock valued at $1,516,000 after purchasing an additional 61 shares during the last quarter. Successful Portfolios LLC increased its position in shares of 3M by 1.8% during the 4th quarter. Successful Portfolios LLC now owns 3,752 shares of the conglomerate’s stock valued at $662,000 after purchasing an additional 65 shares during the last quarter. Mission Wealth Management LP increased its position in shares of 3M by 1.1% during the 4th quarter. Mission Wealth Management LP now owns 6,002 shares of the conglomerate’s stock valued at $1,059,000 after purchasing an additional 66 shares during the last quarter. Finally, Whitnell & Co. increased its position in shares of 3M by 0.7% during the 4th quarter. Whitnell & Co. now owns 9,187 shares of the conglomerate’s stock valued at $1,621,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 68.19% of the company’s stock.

In other news, SVP Ty R. Silberhorn sold 1,967 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $158.19, for a total transaction of $311,159.73. Following the transaction, the senior vice president now owns 3,849 shares in the company, valued at $608,873.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael G. Vale sold 6,250 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $159.17, for a total value of $994,812.50. Following the transaction, the executive vice president now owns 53,804 shares in the company, valued at approximately $8,563,982.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,123 shares of company stock worth $2,748,744. Insiders own 0.42% of the company’s stock.

MMM traded down $1.21 during trading on Thursday, reaching $147.78. The company had a trading volume of 4,783,562 shares, compared to its average volume of 6,114,407. The stock has a market cap of $83.15 billion, a P/E ratio of 18.92, a PEG ratio of 1.80 and a beta of 1.00. The business has a 50 day simple moving average of $143.08 and a 200-day simple moving average of $162.38. 3M Co has a 52 week low of $114.04 and a 52 week high of $219.75. The company has a quick ratio of 0.96, a current ratio of 1.41 and a debt-to-equity ratio of 1.79.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 28th. The conglomerate reported $1.95 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.15). 3M had a return on equity of 51.39% and a net margin of 14.22%. The business had revenue of $8.11 billion during the quarter, compared to analysts’ expectations of $8.12 billion. During the same quarter in the previous year, the business earned $2.31 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that 3M Co will post 8.44 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 14th were paid a $1.47 dividend. This is a positive change from 3M’s previous quarterly dividend of $1.44. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $5.88 dividend on an annualized basis and a yield of 3.98%. 3M’s dividend payout ratio (DPR) is presently 64.62%.

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of 3M from $175.00 to $156.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 17th. JPMorgan Chase & Co. raised shares of 3M from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $143.00 to $150.00 in a report on Monday, December 23rd. Goldman Sachs Group reduced their target price on shares of 3M from $172.00 to $159.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Deutsche Bank reduced their target price on shares of 3M from $178.00 to $158.00 and set a “hold” rating for the company in a report on Thursday. Finally, Wolfe Research raised shares of 3M from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $165.92.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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

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