3M (NYSE:MMM) Shares Purchased by Buckhead Capital Management LLC

Buckhead Capital Management LLC boosted its holdings in shares of 3M (NYSE:MMM) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,248 shares of the conglomerate’s stock after acquiring an additional 2,110 shares during the period. Buckhead Capital Management LLC’s holdings in 3M were worth $2,323,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Briaud Financial Planning Inc purchased a new stake in 3M in the third quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new stake in 3M in the third quarter valued at $37,000. CGC Financial Services LLC raised its holdings in 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after acquiring an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC raised its holdings in shares of 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel acquired a new stake in shares of 3M during the third quarter worth $44,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

NYSE MMM traded up $1.93 on Wednesday, reaching $98.44. The stock had a trading volume of 11,042,401 shares, compared to its average volume of 5,913,749. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The firm has a fifty day moving average of $95.82 and a two-hundred day moving average of $97.54. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The company has a market cap of $54.47 billion, a P/E ratio of -7.86, a price-to-earnings-growth ratio of 1.75 and a beta of 1.02.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.29. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. During the same period in the prior year, the company earned $1.97 EPS. On average, equities research analysts anticipate that 3M will post 8.19 EPS for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.51 dividend. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.14%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s payout ratio is presently -47.82%.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Mizuho restated a “neutral” rating and set a $105.00 price target on shares of 3M in a research report on Wednesday, March 27th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 25th. Royal Bank of Canada upped their price objective on shares of 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research note on Wednesday. Barclays reduced their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Finally, UBS Group increased their price target on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $103.70.

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.