Wynn Capital LLC Buys New Stake in 3M (NYSE:MMM)

Wynn Capital LLC bought a new stake in 3M (NYSE:MMM) during the 4th quarter, HoldingsChannel reports. The fund bought 11,386 shares of the conglomerate’s stock, valued at approximately $1,245,000.

Several other large investors have also recently added to or reduced their stakes in MMM. Vanguard Group Inc. boosted its stake in shares of 3M by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock worth $4,590,533,000 after acquiring an additional 317,483 shares in the last quarter. Invesco Ltd. boosted its stake in shares of 3M by 2.4% during the 3rd quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock worth $382,246,000 after acquiring an additional 94,864 shares in the last quarter. Nuance Investments LLC boosted its stake in shares of 3M by 10.1% during the 3rd quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock worth $380,337,000 after acquiring an additional 371,935 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock worth $413,637,000 after buying an additional 3,508,334 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of 3M by 20.8% in the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after buying an additional 506,654 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MMM. Barclays reduced their price objective on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Wells Fargo & Company lowered their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and set a $105.00 price objective on shares of 3M in a report on Wednesday, March 27th. Bank of America dropped their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, 3M presently has a consensus rating of “Hold” and a consensus target price of $104.00.

3M Price Performance

Shares of MMM traded down $0.98 during mid-day trading on Wednesday, reaching $92.02. The stock had a trading volume of 3,769,084 shares, compared to its average volume of 5,778,785. The firm has a market cap of $50.92 billion, a price-to-earnings ratio of -7.29, a PEG ratio of 1.83 and a beta of 1.02. The business has a fifty day moving average of $95.73 and a 200 day moving average of $97.43. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. 3M has a 12 month low of $71.12 and a 12 month high of $95.67.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 EPS. Equities analysts predict that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.56%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is currently -47.82%.

3M Company 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.