LCM Capital Management Inc Takes Position in 3M (NYSE:MMM)

LCM Capital Management Inc acquired a new position in shares of 3M (NYSE:MMM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,925 shares of the conglomerate’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMM. Pacer Advisors Inc. lifted its position in 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 purchasing an additional 3,508,334 shares during the period. International Assets Investment Management LLC grew its position in 3M by 8,766.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock valued at $118,168,000 after acquiring an additional 1,068,748 shares during the period. Van ECK Associates Corp boosted its stake in shares of 3M by 20.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock valued at $275,630,000 after purchasing an additional 506,654 shares in the last quarter. FMR LLC grew its holdings in shares of 3M by 29.8% in the 3rd quarter. FMR LLC now owns 1,908,914 shares of the conglomerate’s stock worth $178,713,000 after purchasing an additional 438,424 shares during the last quarter. Finally, Nuance Investments LLC increased its position 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 purchasing an additional 371,935 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Trading Up 4.7 %

NYSE MMM traded up $4.35 on Tuesday, reaching $96.51. The company had a trading volume of 16,669,664 shares, compared to its average volume of 5,851,908. 3M has a 52 week low of $71.12 and a 52 week high of $97.84. The stock’s 50 day moving average is $95.82 and its 200-day moving average is $97.54. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The stock has a market cap of $53.40 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 1.74 and a beta of 1.02.

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 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 6.26%. 3M’s dividend payout ratio is -47.82%.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now 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 Securities & Exchange Commission, which is available through this link. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MMM. Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Wells Fargo & Company dropped their price target on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada lowered their target price on 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. decreased their price objective 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. Finally, StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.00.

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.