Apollon Wealth Management LLC Raises Holdings in 3M (NYSE:MMM)

Apollon Wealth Management LLC lifted its holdings in 3M (NYSE:MMM) by 21.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,519 shares of the conglomerate’s stock after buying an additional 3,862 shares during the quarter. Apollon Wealth Management LLC’s holdings in 3M were worth $2,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of 3M by 15.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after acquiring an additional 14,775 shares during the period. Shoker Investment Counsel Inc. grew its holdings in 3M by 49.7% in the third quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock valued at $1,568,000 after purchasing an additional 5,561 shares during the last quarter. MWA Asset Management purchased a new position in shares of 3M in the fourth quarter valued at $1,723,000. Diversified Trust Co raised its stake in shares of 3M by 1.4% during the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after buying an additional 263 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of 3M in the 3rd quarter worth about $11,908,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’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 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 legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by insiders.

3M Trading Down 1.1 %

Shares of MMM stock traded down $1.04 on Tuesday, reaching $95.55. 4,408,683 shares of the stock were exchanged, compared to its average volume of 5,865,751. The firm has a 50 day moving average of $96.24 and a two-hundred day moving average of $97.77. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. The stock has a market cap of $52.87 billion, a P/E ratio of -7.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period last year, the business posted $1.97 EPS. On average, research analysts anticipate that 3M will post 7.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MMM. Royal Bank of Canada lifted their target price on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Citigroup raised their price target on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Bank of America cut their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Finally, Mizuho restated a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $103.70.

3M 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.