Davis R M Inc. Has $587,000 Holdings in 3M (NYSE:MMM)

Davis R M Inc. grew its position in 3M (NYSE:MMM) by 20.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,547 shares of the conglomerate’s stock after acquiring an additional 766 shares during the period. Davis R M Inc.’s holdings in 3M were worth $587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MMM. Assetmark Inc. grew its holdings in shares of 3M by 51.0% during the third quarter. Assetmark Inc. now owns 651 shares of the conglomerate’s stock worth $89,000 after purchasing an additional 220 shares during the last quarter. Baker Avenue Asset Management LP acquired a new position in 3M during the 3rd quarter worth about $337,000. Los Angeles Capital Management LLC grew its holdings in 3M by 215.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 33,557 shares of the conglomerate’s stock worth $4,587,000 after acquiring an additional 22,932 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in 3M in the 3rd quarter valued at about $61,000. Finally, Harbour Investments Inc. raised its stake in shares of 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after acquiring an additional 81 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at 3M

In other 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 sale, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $150.25, for a total transaction of $247,161.25. Following the transaction, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 over the last three months. Company insiders own 0.34% of the company’s stock.

3M Price Performance

NYSE MMM opened at $147.74 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 52-week low of $81.23 and a 52-week high of $156.35. The business has a 50 day simple moving average of $145.26 and a 200 day simple moving average of $136.53. The stock has a market cap of $80.21 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 3.30 and a beta of 0.97.

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

3M Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from 3M’s previous quarterly dividend of $0.70. The ex-dividend date is Friday, February 14th. 3M’s payout ratio is 38.68%.

Analysts Set New Price Targets

MMM has been the subject of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Friday, March 7th. Citigroup upped their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America raised their price target on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Barclays boosted their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

3M Company 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.