Dimensional Fund Advisors LP Lowers Stake in 3M (NYSE:MMM)

Dimensional Fund Advisors LP lowered its stake in shares of 3M (NYSE:MMMFree Report) by 13.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,925,419 shares of the conglomerate’s stock after selling 472,129 shares during the quarter. Dimensional Fund Advisors LP owned 0.53% of 3M worth $319,817,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Briaud Financial Planning Inc bought a new position in shares of 3M during the 3rd quarter valued at $35,000. Authentikos Wealth Advisory LLC bought a new position in shares of 3M during the 3rd quarter valued at $37,000. CGC Financial Services LLC grew its holdings in shares of 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its holdings in shares of 3M by 275.6% during the 3rd quarter. HHM Wealth Advisors LLC now owns 477 shares of the conglomerate’s stock valued at $45,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors 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 business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

3M Stock Up 1.0 %

NYSE MMM traded up $1.02 during trading hours on Monday, reaching $99.95. 2,992,123 shares of the company’s stock traded hands, compared to its average volume of 5,757,834. 3M has a 52-week low of $71.12 and a 52-week high of $101.74. The firm has a market cap of $55.31 billion, a PE ratio of -7.94, a PEG ratio of 1.82 and a beta of 1.00. The firm has a 50-day simple moving average of $96.65 and a 200 day simple moving average of $97.97. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27.

3M (NYSE:MMMGet Free Report) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.29. The business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same period in the previous year, the company earned $1.97 earnings per share. Sell-side analysts anticipate that 3M will post 7.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MMM. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. StockNews.com raised shares of 3M from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 25th. HSBC raised shares of 3M from a “hold” rating to a “buy” rating and raised their price target for the stock from $91.13 to $115.00 in a report on Friday. Wells Fargo & Company cut their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Finally, Barclays cut their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, 3M currently has an average rating of “Hold” and an average price target of $104.30.

Get Our Latest Analysis on 3M

About 3M

(Free Report)

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.

See Also

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

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