Motley Fool Asset Management LLC Acquires 860 Shares of 3M (NYSE:MMM)

Motley Fool Asset Management LLC grew its holdings in shares of 3M (NYSE:MMM) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,262 shares of the conglomerate’s stock after purchasing an additional 860 shares during the period. Motley Fool Asset Management LLC’s holdings in 3M were worth $1,778,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Caprock Group LLC lifted its stake in shares of 3M by 57.0% in the third quarter. Caprock Group LLC now owns 9,248 shares of the conglomerate’s stock valued at $866,000 after buying an additional 3,357 shares in the last quarter. Czech National Bank boosted its stake in 3M by 47.7% in the third quarter. Czech National Bank now owns 96,487 shares of the conglomerate’s stock worth $9,033,000 after buying an additional 31,181 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in 3M by 9.3% in the third quarter. Asset Management One Co. Ltd. now owns 335,535 shares of the conglomerate’s stock valued at $31,413,000 after purchasing an additional 28,417 shares during the last quarter. Etesian Wealth Advisors Inc. raised its holdings in shares of 3M by 5.7% during the third quarter. Etesian Wealth Advisors Inc. now owns 7,883 shares of the conglomerate’s stock valued at $738,000 after acquiring an additional 423 shares in the last quarter. Finally, Aaron Wealth Advisors LLC raised its holdings in shares of 3M by 13.1% during the third quarter. Aaron Wealth Advisors LLC now owns 3,452 shares of the conglomerate’s stock valued at $323,000 after acquiring an additional 400 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

MMM traded up $0.39 during trading on Friday, hitting $91.80. The stock had a trading volume of 4,519,673 shares, compared to its average volume of 5,728,667. The company has a 50 day simple moving average of $95.71 and a 200-day simple moving average of $97.37. 3M has a 12 month low of $71.12 and a 12 month high of $95.67. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69. The firm has a market cap of $50.80 billion, a PE ratio of -7.27, a P/E/G ratio of 1.82 and a beta of 1.02.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion for the quarter, compared to analyst estimates of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.28 earnings per share. Analysts expect that 3M will post 7.87 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 6.58%. This is a positive change from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio is presently -47.82%.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on MMM shares. Royal Bank of Canada lowered their target price on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. JPMorgan Chase & Co. dropped their price objective on 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Bank of America reduced their price target on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. StockNews.com upgraded 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Barclays reduced their price target on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $104.00.

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.