Disciplined Equity Management Inc. Buys 180 Shares of 3M (NYSE:MMM)

Disciplined Equity Management Inc. raised its holdings in 3M (NYSE:MMM) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,058 shares of the conglomerate’s stock after buying an additional 180 shares during the quarter. 3M accounts for approximately 1.1% of Disciplined Equity Management Inc.’s holdings, making the stock its 13th biggest holding. Disciplined Equity Management Inc.’s holdings in 3M were worth $1,646,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wynn Capital LLC bought a new stake in 3M in the 4th quarter valued at $1,245,000. Alaska Permanent Fund Corp bought a new stake in 3M in the 4th quarter valued at $446,000. Harvest Fund Management Co. Ltd increased its holdings in 3M by 505.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 1,242 shares of the conglomerate’s stock valued at $136,000 after buying an additional 1,037 shares during the period. F M Investments LLC bought a new stake in 3M in the 4th quarter valued at $207,000. Finally, Socha Financial Group LLC bought a new stake in 3M in the 4th quarter valued at $209,000. Institutional investors own 65.25% of the company’s stock.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company insiders.

3M Trading Down 1.1 %

3M stock traded down $0.98 during trading hours on Wednesday, reaching $92.02. 3,769,084 shares of the company’s stock traded hands, compared to its average volume of 5,778,785. 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 fifty-two week low of $71.12 and a fifty-two week high of $95.67. The firm has a market capitalization 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 firm’s 50 day moving average is $95.72 and its 200-day moving average is $97.39.

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

3M Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada lowered their price target on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their target price on shares of 3M from $118.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company lowered their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Barclays lowered their target price on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Finally, Citigroup upped their target price on shares of 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $104.00.

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.