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

Apollon Wealth Management LLC grew its holdings in shares of 3M (NYSE:MMM) by 21.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MMM. Maryland State Retirement & Pension System lifted its stake in 3M by 1.9% in the fourth quarter. Maryland State Retirement & Pension System now owns 42,802 shares of the conglomerate’s stock worth $4,679,000 after purchasing an additional 801 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of 3M by 39.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 13,247 shares of the conglomerate’s stock worth $1,448,000 after acquiring an additional 3,750 shares during the last quarter. River Global Investors LLP boosted its holdings in 3M by 12.3% during the 4th quarter. River Global Investors LLP now owns 13,499 shares of the conglomerate’s stock valued at $1,476,000 after acquiring an additional 1,480 shares during the period. NavPoint Financial Inc. bought a new position in 3M in the 4th quarter valued at $803,000. Finally, Avalon Trust Co increased its stake in 3M by 6.7% in the fourth quarter. Avalon Trust Co now owns 3,200 shares of the conglomerate’s stock worth $350,000 after purchasing an additional 200 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Down 1.1 %

Shares of NYSE:MMM traded down $1.04 during trading on Tuesday, reaching $95.55. The stock had a trading volume of 4,408,683 shares, compared to its average volume of 5,865,751. The firm’s 50-day simple moving average is $96.24 and its 200 day simple moving average is $97.77. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. 3M has a one year low of $71.12 and a one year high of $99.70. The company has a market capitalization of $52.87 billion, a P/E ratio of -7.61, a PEG ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The company had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the company posted $1.97 earnings per share. As a group, research analysts expect that 3M will post 7.23 EPS for the current fiscal year.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MMM. UBS Group upped their price target on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Wells Fargo & Company decreased their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Royal Bank of Canada raised their price objective on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. Mizuho reiterated a “neutral” rating and issued a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. Finally, StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, 3M presently has a consensus rating of “Hold” and a consensus 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.