Childress Capital Advisors LLC Has $203,000 Stock Holdings in 3M (NYSE:MMM)

Childress Capital Advisors LLC raised its stake in 3M (NYSE:MMM) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,573 shares of the conglomerate’s stock after purchasing an additional 76 shares during the period. Childress Capital Advisors LLC’s holdings in 3M were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MMM. Czech National Bank grew its position in shares of 3M by 6.1% in the third quarter. Czech National Bank now owns 111,909 shares of the conglomerate’s stock valued at $15,298,000 after purchasing an additional 6,461 shares during the last quarter. Park Avenue Securities LLC increased its position in 3M by 14.8% during the 3rd quarter. Park Avenue Securities LLC now owns 6,187 shares of the conglomerate’s stock worth $846,000 after buying an additional 796 shares during the period. Everpar Advisors LLC acquired a new stake in shares of 3M during the third quarter worth $251,000. Miracle Mile Advisors LLC bought a new stake in shares of 3M in the third quarter valued at about $218,000. Finally, Fulton Bank N.A. grew its stake in shares of 3M by 25.0% in the third quarter. Fulton Bank N.A. now owns 9,440 shares of the conglomerate’s stock valued at $1,290,000 after acquiring an additional 1,890 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several analyst reports. Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Barclays boosted their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday. Finally, Citigroup raised their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Trading Up 1.1 %

MMM opened at $151.73 on Wednesday. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company’s 50 day moving average price is $135.61 and its two-hundred day moving average price is $131.59. The firm has a market capitalization of $82.62 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 earnings per share. As a group, research analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a $0.73 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.92%. 3M’s payout ratio is currently 37.09%.

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.