Regal Investment Advisors LLC Increases Holdings in 3M Co (NYSE:MMM)

Regal Investment Advisors LLC lifted its position in shares of 3M Co (NYSE:MMM) by 9.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 11,287 shares of the conglomerate’s stock after purchasing an additional 984 shares during the quarter. Regal Investment Advisors LLC’s holdings in 3M were worth $1,957,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. M. Kraus & Co grew its position in 3M by 5.2% during the 2nd quarter. M. Kraus & Co now owns 3,630 shares of the conglomerate’s stock worth $629,000 after acquiring an additional 179 shares during the last quarter. Physicians Financial Services Inc. grew its position in 3M by 11.7% during the 1st quarter. Physicians Financial Services Inc. now owns 16,859 shares of the conglomerate’s stock worth $3,503,000 after acquiring an additional 1,763 shares during the last quarter. Steinberg Global Asset Management grew its position in 3M by 52.6% during the 1st quarter. Steinberg Global Asset Management now owns 4,903 shares of the conglomerate’s stock worth $1,019,000 after acquiring an additional 1,689 shares during the last quarter. Hemenway Trust Co LLC grew its position in 3M by 1.5% during the 2nd quarter. Hemenway Trust Co LLC now owns 91,089 shares of the conglomerate’s stock worth $15,789,000 after acquiring an additional 1,381 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in 3M by 10.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 51,967 shares of the conglomerate’s stock worth $9,007,000 after acquiring an additional 4,765 shares during the last quarter. 66.98% of the stock is currently owned by institutional investors.

Shares of MMM stock traded down $4.58 during trading hours on Wednesday, reaching $159.14. The company’s stock had a trading volume of 3,153,681 shares, compared to its average volume of 3,040,538. The company has a market capitalization of $98.11 billion, a PE ratio of 15.21, a P/E/G ratio of 1.79 and a beta of 1.09. 3M Co has a one year low of $159.32 and a one year high of $219.75. The business’s fifty day moving average is $172.76. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34.

3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $2.59 EPS. Analysts expect that 3M Co will post 9.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 16th will be given a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.62%. 3M’s dividend payout ratio is currently 55.07%.

In other 3M news, Director Gregory R. Page acquired 1,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average cost of $176.26 per share, for a total transaction of $176,260.00. Following the transaction, the director now owns 4,000 shares in the company, valued at $705,040. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joaquin Delgado sold 5,400 shares of 3M stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $169.68, for a total value of $916,272.00. Following the completion of the sale, the insider now owns 28,092 shares in the company, valued at $4,766,650.56. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

Several equities analysts recently issued reports on MMM shares. Deutsche Bank reduced their price target on 3M from $188.00 to $183.00 and set a “hold” rating on the stock in a research report on Friday, April 26th. Credit Suisse Group raised their price target on 3M from $180.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Barclays restated a “sell” rating and set a $162.00 price target on shares of 3M in a research report on Thursday, June 6th. Wolfe Research set a $174.00 price target on 3M and gave the stock a “sell” rating in a research report on Friday, April 26th. Finally, UBS Group reduced their price target on 3M from $201.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $182.54.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Featured Story: The Role of a Fiduciary and Individual Investors

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.