3M (NYSE:MMM) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in 3M (NYSE:MMM) by 34.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,133,190 shares of the conglomerate’s stock after purchasing an additional 544,380 shares during the period. Dimensional Fund Advisors LP owned about 0.39% of 3M worth $275,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Advisors LP raised its position in 3M by 6.3% during the fourth quarter. First Trust Advisors LP now owns 557,154 shares of the conglomerate’s stock worth $71,923,000 after acquiring an additional 32,952 shares during the last quarter. Forum Financial Management LP lifted its stake in 3M by 58.5% in the 4th quarter. Forum Financial Management LP now owns 3,170 shares of the conglomerate’s stock valued at $409,000 after buying an additional 1,170 shares in the last quarter. Commerce Bank increased its position in 3M by 0.3% during the fourth quarter. Commerce Bank now owns 61,553 shares of the conglomerate’s stock worth $7,946,000 after buying an additional 180 shares in the last quarter. Allred Capital Management LLC lifted its position in shares of 3M by 0.9% in the fourth quarter. Allred Capital Management LLC now owns 13,445 shares of the conglomerate’s stock valued at $1,736,000 after acquiring an additional 123 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in 3M by 26.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 360,944 shares of the conglomerate’s stock worth $46,582,000 after purchasing an additional 74,412 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Transactions at 3M

In other news, CAO Theresa E. Reinseth sold 2,309 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the sale, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Victoria Clarke sold 1,750 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,639 shares of company stock worth $17,163,446. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the subject of a number of analyst reports. Barclays cut their price objective on shares of 3M from $165.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th. Citigroup reduced their target price on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price objective on shares of 3M in a research note on Thursday, February 27th. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.47.

3M Trading Down 3.4 %

Shares of NYSE MMM opened at $125.78 on Tuesday. The stock has a market capitalization of $67.84 billion, a P/E ratio of 16.66, a PEG ratio of 3.30 and a beta of 1.01. The stock’s 50 day moving average price is $144.07 and its two-hundred day moving average price is $138.19. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52-week low of $90.65 and a 52-week high of $156.35.

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

3M Increases Dividend

The business also recently disclosed 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 2.32%. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is currently 38.68%.

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.