3M (NYSE:MMM) Shares Purchased by Pantheon Investment Group LLC

Pantheon Investment Group LLC increased its position in shares of 3M (NYSE:MMMGet Rating) by 41.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,332 shares of the conglomerate’s stock after acquiring an additional 2,423 shares during the period. 3M comprises 1.2% of Pantheon Investment Group LLC’s investment portfolio, making the stock its 28th biggest position. Pantheon Investment Group LLC’s holdings in 3M were worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. DB Fitzpatrick & Co Inc acquired a new stake in 3M in the 4th quarter valued at about $29,000. Ritter Daniher Financial Advisory LLC raised its position in 3M by 98.9% in the 4th quarter. Ritter Daniher Financial Advisory LLC now owns 179 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 89 shares in the last quarter. Atticus Wealth Management LLC acquired a new stake in 3M in the 4th quarter valued at about $36,000. McIlrath & Eck LLC raised its position in 3M by 60.8% in the 3rd quarter. McIlrath & Eck LLC now owns 230 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 87 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in 3M in the 3rd quarter valued at about $41,000. 67.22% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on MMM shares. Credit Suisse Group reduced their price target on 3M from $173.00 to $161.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft cut their target price on 3M from $167.00 to $164.00 and set a “hold” rating on the stock in a research report on Wednesday, April 27th. Mizuho cut their target price on 3M from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 15th. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating and set a $159.00 target price on the stock. in a research report on Friday, April 22nd. Finally, Citigroup cut their target price on 3M from $157.00 to $151.00 in a research report on Wednesday, April 27th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $164.73.

In other news, insider Mojdeh Poul sold 1,634 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $151.68, for a total value of $247,845.12. Following the completion of the transaction, the insider now directly owns 7,637 shares of the company’s stock, valued at $1,158,380.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Roman sold 10,610 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $146.21, for a total value of $1,551,288.10. Following the completion of the transaction, the chief executive officer now directly owns 90,361 shares of the company’s stock, valued at $13,211,681.81. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Shares of MMM stock traded down $2.01 during midday trading on Thursday, hitting $146.92. The company had a trading volume of 58,302 shares, compared to its average volume of 3,113,332. The company’s 50 day simple moving average is $148.57 and its 200 day simple moving average is $162.41. 3M has a 52-week low of $139.74 and a 52-week high of $206.81. The stock has a market cap of $83.61 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.58 and a quick ratio of 1.00.

3M (NYSE:MMMGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.32. 3M had a return on equity of 39.35% and a net margin of 15.84%. The firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.75 billion. During the same period in the previous year, the business earned $2.77 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that 3M will post 10.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 12th. Investors of record on Friday, May 20th will be paid a $1.49 dividend. The ex-dividend date is Thursday, May 19th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 4.06%. 3M’s dividend payout ratio (DPR) is presently 62.02%.

About 3M (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

See Also

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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