Whittier Trust Co. of Nevada Inc. Purchases 534 Shares of 3M (NYSE:MMM)

Whittier Trust Co. of Nevada Inc. raised its holdings in shares of 3M (NYSE:MMM) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,356 shares of the conglomerate’s stock after acquiring an additional 534 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in 3M were worth $4,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its position in 3M by 5.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 64,013 shares of the conglomerate’s stock worth $8,751,000 after buying an additional 3,404 shares in the last quarter. Prospera Financial Services Inc raised its holdings in 3M by 11.0% during the third quarter. Prospera Financial Services Inc now owns 11,882 shares of the conglomerate’s stock worth $1,625,000 after acquiring an additional 1,182 shares in the last quarter. Cornerstone Advisors LLC boosted its position in 3M by 5.4% during the third quarter. Cornerstone Advisors LLC now owns 19,600 shares of the conglomerate’s stock valued at $2,679,000 after purchasing an additional 1,000 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in 3M by 8.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 389,209 shares of the conglomerate’s stock valued at $53,205,000 after purchasing an additional 31,923 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of 3M by 93.9% during the 3rd quarter. Intech Investment Management LLC now owns 67,385 shares of the conglomerate’s stock worth $9,212,000 after purchasing an additional 32,627 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 0.6 %

MMM stock opened at $150.35 on Friday. The business’s fifty day moving average price is $148.35 and its two-hundred day moving average price is $137.47. The stock has a market capitalization of $81.63 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.97. 3M has a fifty-two week low of $85.62 and a fifty-two week high of $156.35. 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 (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The business’s revenue was down 25.0% on a year-over-year basis. On average, equities analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.94%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is currently 38.68%.

Insiders Place Their Bets

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MMM shares. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Citigroup upped their target price on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. upped their price objective on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

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.