O Shaughnessy Asset Management LLC Has $13.07 Million Stock Holdings in 3M (NYSE:MMM)

O Shaughnessy Asset Management LLC lessened its position in shares of 3M (NYSE:MMM - Free Report) by 52.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,261 shares of the conglomerate's stock after selling 111,496 shares during the period. O Shaughnessy Asset Management LLC's holdings in 3M were worth $13,072,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in 3M in the 4th quarter worth about $851,000. Franklin Resources Inc. boosted its stake in shares of 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock valued at $114,770,000 after buying an additional 178,450 shares during the period. Meyer Handelman Co. grew its position in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock worth $25,511,000 after buying an additional 2,678 shares in the last quarter. USA Financial Formulas bought a new position in 3M during the 4th quarter worth $816,000. Finally, Braun Stacey Associates Inc. raised its holdings in 3M by 18.4% in the 4th quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock valued at $18,408,000 after acquiring an additional 22,203 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on MMM. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research report on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday, March 22nd. JPMorgan Chase & Co. upped their target price on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Bank of America upped their price objective on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $149.13.

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Insider Buying and Selling

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the sale, the insider now owns 5,024 shares of the company's stock, valued at $750,736.32. This trade represents a 55.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the business's stock in a transaction on Monday, January 27th. The shares were 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 in the company, 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 quarter. Insiders own 0.34% of the company's stock.

3M Trading Down 4.6 %

NYSE:MMM traded down $6.84 during mid-day trading on Thursday, hitting $140.92. 3,842,087 shares of the company's stock were exchanged, compared to its average volume of 4,079,050. The company has a 50 day simple moving average of $149.71 and a 200-day simple moving average of $138.56. The firm has a market capitalization of $76.00 billion, a P/E ratio of 18.68, a PEG ratio of 3.30 and a beta of 0.97. 3M has a fifty-two week low of $89.54 and a fifty-two week high of $156.35. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) 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. The company had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M's revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 earnings per share. As a group, 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. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.07%. 3M's dividend payout ratio is 38.68%.

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.