Americana Partners LLC Has $445,000 Stock Position in 3M (NYSE:MMM)

Americana Partners LLC grew its holdings in shares of 3M (NYSE:MMM) by 4.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,255 shares of the conglomerate’s stock after buying an additional 138 shares during the quarter. Americana Partners LLC’s holdings in 3M were worth $445,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. CVA Family Office LLC grew its holdings in shares of 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the last quarter. Fortis Capital Advisors LLC lifted its position in shares of 3M by 2.9% during the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after purchasing an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after purchasing an additional 84 shares in the last quarter. TCV Trust & Wealth Management Inc. lifted its position in shares of 3M by 1.3% during the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after purchasing an additional 84 shares in the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in shares of 3M by 2.9% during the third quarter. Raleigh Capital Management Inc. now owns 3,038 shares of the conglomerate’s stock valued at $415,000 after purchasing an additional 87 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MMM shares. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays raised their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America raised their price target on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $139.27.

Insider Activity

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

3M Stock Performance

NYSE MMM opened at $127.22 on Friday. The company’s 50 day moving average is $133.00 and its 200-day moving average is $115.14. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The firm has a market cap of $69.28 billion, a P/E ratio of 16.06, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. Sell-side analysts predict that 3M will post 7.28 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

3M 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.