Biltmore Family Office LLC Purchases 374 Shares of 3M (NYSE:MMM)

Biltmore Family Office LLC boosted its position in 3M (NYSE:MMM) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,360 shares of the conglomerate’s stock after purchasing an additional 374 shares during the period. Biltmore Family Office LLC’s holdings in 3M were worth $1,983,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Investors Asset Management of Georgia Inc. GA ADV lifted 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 buying an additional 67 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in 3M by 1.4% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock valued at $665,000 after purchasing an additional 70 shares during the last quarter. Gilbert & Cook Inc. boosted its position in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after purchasing an additional 73 shares during the period. Childress Capital Advisors LLC raised its position in shares of 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its stake in shares of 3M by 5.3% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate’s stock worth $196,000 after buying an additional 77 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays raised their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research report on Saturday, March 22nd. Bank of America lifted their target price on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. upped their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and a consensus price target of $149.13.

Insider Transactions at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Kevin H. Rhodes sold 6,743 shares of 3M stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the sale, the executive vice president now owns 4,902 shares in the company, valued at approximately $734,564.70. This represents a 57.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company’s stock.

3M Trading Up 0.1 %

Shares of MMM opened at $147.85 on Thursday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $89.54 and a 52-week high of $156.35. The firm has a market cap of $79.74 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 3.30 and a beta of 0.97. The business’s fifty day moving average is $149.71 and its 200-day moving average is $138.56.

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

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 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.