Bison Wealth LLC Makes New $237,000 Investment in 3M (NYSE:MMM)

Bison Wealth LLC bought a new position in shares of 3M (NYSE:MMM – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,109 shares of the conglomerate’s stock, valued at approximately $237,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MADDEN SECURITIES Corp bought a new stake in shares of 3M in the fourth quarter valued at about $25,000. US Asset Management LLC acquired a new stake in shares of 3M in the fourth quarter valued at about $27,000. Piershale Financial Group Inc. acquired a new stake in shares of 3M in the fourth quarter valued at about $29,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of 3M in the fourth quarter valued at about $40,000. Finally, Heritage Wealth Management LLC increased its position in shares of 3M by 33.0% in the third quarter. Heritage Wealth Management LLC now owns 423 shares of the conglomerate’s stock valued at $47,000 after acquiring an additional 105 shares during the last quarter. 65.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MMM. Royal Bank of Canada lifted their target price on 3M from $89.00 to $95.00 in a research report on Wednesday, April 26th. Barclays lowered their price target on 3M from $105.00 to $103.00 and set an “underweight” rating on the stock in a research report on Thursday, April 6th. Wells Fargo & Company lowered their price target on 3M from $115.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Morgan Stanley lowered their price target on 3M from $110.00 to $103.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com began coverage on 3M in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $122.69.

3M Price Performance

Shares of MMM traded up $0.27 during trading hours on Friday, reaching $97.32. The stock had a trading volume of 182,106 shares, compared to its average volume of 3,378,372. 3M has a 12 month low of $95.35 and a 12 month high of $152.30. The stock has a market capitalization of $53.69 billion, a PE ratio of 10.06, a PEG ratio of 1.18 and a beta of 0.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.91 and a current ratio of 1.42. The company’s 50-day moving average is $102.67 and its two-hundred day moving average is $113.68.

3M (NYSE:MMM – Get Rating) last announced its earnings results on Tuesday, April 25th. The conglomerate reported $1.97 EPS for the quarter, topping the consensus estimate of $1.60 by $0.37. The firm had revenue of $8.03 billion for the quarter, compared to the consensus estimate of $7.51 billion. 3M had a return on equity of 36.48% and a net margin of 16.31%. The business’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.65 EPS. Research analysts expect that 3M will post 8.66 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Friday, May 19th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date is Thursday, May 18th. 3M’s dividend payout ratio is presently 62.18%.

Insider Activity at 3M

In other news, EVP Eric D. Hammes sold 6,487 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $105.33, for a total value of $683,275.71. Following the transaction, the executive vice president now directly owns 10,430 shares of the company’s stock, valued at approximately $1,098,591.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 3M news, insider Khandpur K. Ashish sold 9,432 shares of the stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $99.27, for a total value of $936,314.64. Following the transaction, the insider now owns 20,943 shares in the company, valued at $2,079,011.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric D. Hammes sold 6,487 shares of the stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $105.33, for a total value of $683,275.71. Following the completion of the transaction, the executive vice president now owns 10,430 shares in the company, valued at approximately $1,098,591.90. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

About 3M

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.