Drum Hill Capital LLC Invests $217,000 in 3M (NYSE:MMM)

Drum Hill Capital LLC purchased a new position in 3M (NYSE:MMM) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,681 shares of the conglomerate’s stock, valued at approximately $217,000.

Other large investors have also made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV grew its position in shares of 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock valued at $694,000 after purchasing an additional 67 shares during the last quarter. Gilbert & Cook Inc. boosted its stake in 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock valued at $659,000 after purchasing an additional 73 shares during the period. Childress Capital Advisors LLC grew its holdings in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after buying an additional 76 shares in the last quarter. Wynn Capital LLC increased its position in 3M by 0.7% during the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in shares of 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling

In related news, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 over the last 90 days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on MMM. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America lifted their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Price Performance

Shares of NYSE:MMM opened at $144.87 on Friday. 3M has a one year low of $75.40 and a one year high of $155.00. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market cap of $78.65 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 3.32 and a beta of 0.96. The firm has a 50 day simple moving average of $140.62 and a 200 day simple moving average of $134.56.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. Research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. 3M’s payout ratio is presently 38.68%.

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.