Cwm LLC Has $4.14 Million Stake in 3M (NYSE:MMM)

Cwm LLC boosted its holdings in 3M (NYSE:MMM) by 13.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,490 shares of the conglomerate’s stock after acquiring an additional 4,701 shares during the period. Cwm LLC’s holdings in 3M were worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of 3M in the fourth quarter valued at $502,585,000. Balyasny Asset Management L.P. boosted its holdings in shares of 3M by 313.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock worth $289,803,000 after buying an additional 2,010,319 shares during the period. Capital World Investors acquired a new position in 3M in the 1st quarter valued at about $165,986,000. Los Angeles Capital Management LLC raised its holdings in 3M by 157.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock valued at $197,377,000 after acquiring an additional 1,103,459 shares during the period. Finally, National Bank of Canada FI lifted its position in 3M by 218.3% during the first quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after acquiring an additional 1,021,440 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Transactions at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MMM. Vertical Research upgraded 3M from a “hold” rating to a “buy” rating and increased their target price for the stock from $92.00 to $140.00 in a research note on Thursday, May 16th. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a report on Tuesday, July 30th. StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. Finally, HSBC raised shares of 3M from a “hold” rating to a “buy” rating and boosted their price objective for the company from $91.13 to $115.00 in a report on Friday, May 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.57.

3M Price Performance

MMM stock traded down $2.03 during trading on Wednesday, reaching $122.86. 3,409,423 shares of the company were exchanged, compared to its average volume of 5,448,568. 3M has a twelve month low of $71.12 and a twelve month high of $128.65. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The company has a market capitalization of $67.99 billion, a price-to-earnings ratio of -9.66, a P/E/G ratio of 2.34 and a beta of 0.95. The company has a 50-day moving average of $106.02 and a two-hundred day moving average of $99.76.

3M (NYSE:MMM) last released its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the firm posted $2.17 earnings per share. As a group, equities analysts predict that 3M will post 7.21 earnings per share for the current fiscal year.

3M Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were issued a $0.70 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.80 annualized dividend and a yield of 2.28%. 3M’s payout ratio is -22.01%.

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.