Dimensional Fund Advisors LP Acquires 544,380 Shares of 3M (NYSE:MMM)

Dimensional Fund Advisors LP grew its stake in shares of 3M (NYSE:MMM - Free Report) by 34.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 approximately 0.39% of 3M worth $275,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Financial Life Planners bought a new stake in 3M during the fourth quarter worth $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M in the 4th quarter worth $26,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M in the fourth quarter valued at about $27,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Price Performance

Shares of 3M stock traded down $0.27 during trading on Wednesday, hitting $136.06. 4,651,994 shares of the stock traded hands, compared to its average volume of 4,182,224. The firm's fifty day moving average is $143.82 and its 200-day moving average is $138.18. The stock has a market cap of $73.38 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 3.30 and a beta of 1.01. 3M has a 52 week low of $90.65 and a 52 week high of $156.35. 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 (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. Research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is a positive change from 3M's previous quarterly dividend of $0.70. 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 2.15%. 3M's dividend payout ratio is presently 38.68%.

Insider Buying and Selling

In related news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the insider now directly 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 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. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

MMM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Barclays lifted their target price on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday. Citigroup reduced their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada increased their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

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.