3M (NYSE:MMM) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its position in 3M (NYSE:MMM - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 232,477 shares of the conglomerate's stock after purchasing an additional 5,109 shares during the period. Royal London Asset Management Ltd.'s holdings in 3M were worth $30,010,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Financial Life Planners bought a new stake in shares of 3M in the 4th quarter worth $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M in the fourth quarter worth $26,000. FSA Wealth Management LLC bought a new stake in shares of 3M during the 3rd quarter worth $27,000. Daymark Wealth Partners LLC raised its holdings in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after buying an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC boosted its position in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after buying an additional 98 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Performance

Shares of MMM traded up $0.38 during mid-day trading on Tuesday, reaching $153.53. 4,117,823 shares of the company's stock were exchanged, compared to its average volume of 4,027,325. The business's fifty day simple moving average is $148.72 and its 200-day simple moving average is $137.71. The stock has a market capitalization of $83.35 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 3M has a 52-week low of $85.62 and a 52-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.

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3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the business posted $2.42 earnings per share. 3M's quarterly revenue was down 25.0% on a year-over-year basis. On average, equities research analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.90%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is 38.68%.

Wall Street Analysts Forecast Growth

MMM has been the topic of several recent research reports. Citigroup increased their price objective on 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday. Barclays raised their price objective on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Royal Bank of Canada restated an "underperform" rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Finally, Bank of America upped their target price on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $149.13.

Insider Buying and Selling at 3M

In related news, Chairman Michael F. Roman sold 45,276 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $150.01, for a total transaction of $6,791,852.76. Following the sale, the chairman now owns 175,718 shares of the company's stock, valued at approximately $26,359,457.18. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, 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 approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by company insiders.

About 3M

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.