3M (NYSE:MMM) Stock Holdings Boosted by Sei Investments Co.

Sei Investments Co. raised its position in 3M (NYSE:MMM - Free Report) by 13.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 147,942 shares of the conglomerate's stock after buying an additional 17,330 shares during the quarter. Sei Investments Co.'s holdings in 3M were worth $19,099,000 as of its most recent filing with the SEC.

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

Insider Activity

In related news, 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 transaction of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at $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. In the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is currently owned by insiders.

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3M Stock Down 2.5 %

Shares of NYSE MMM traded down $3.70 on Friday, hitting $144.74. The company had a trading volume of 2,581,499 shares, compared to its average volume of 4,133,279. The firm has a market capitalization of $78.58 billion, a P/E ratio of 19.17, a PEG ratio of 3.30 and a beta of 0.97. 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 12-month low of $88.23 and a 12-month high of $156.35. The business has a 50 day moving average of $149.60 and a two-hundred day moving average of $138.23.

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

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.02%. 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 is presently 38.68%.

Analysts Set New Price Targets

A number of research firms have issued reports on MMM. Royal Bank of Canada restated an "underperform" rating and issued a $96.00 target price on shares of 3M in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price target on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Citigroup raised 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. Barclays upped their target price on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Saturday, March 22nd. Two research 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, the company currently has an average rating of "Moderate Buy" and an average 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.