Intech Investment Management LLC Buys 20,471 Shares of 3M (NYSE:MMM)

Intech Investment Management LLC grew its holdings in 3M (NYSE:MMM - Free Report) by 30.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 87,856 shares of the conglomerate's stock after buying an additional 20,471 shares during the quarter. Intech Investment Management LLC's holdings in 3M were worth $11,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Financial Life Planners purchased a new position in shares of 3M in the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new position in shares of 3M in the 3rd quarter valued at approximately $27,000. True Wealth Design LLC lifted its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC lifted its stake in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of 3M by 81.5% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after purchasing an additional 163 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Activity at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated 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 directly owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the completion of the transaction, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.34% of the company's stock.

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3M Stock Performance

Shares of MMM traded down $0.92 during trading hours on Friday, hitting $150.35. The stock had a trading volume of 5,538,508 shares, compared to its average volume of 4,036,029. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 12 month low of $85.62 and a 12 month high of $156.35. The firm has a market capitalization of $81.63 billion, a PE ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.97. The stock has a fifty day moving average price of $148.35 and a 200 day moving average price of $137.47.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5.77 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. 3M's revenue was down 25.0% compared to the same quarter last year. Analysts anticipate that 3M will post 7.8 EPS 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 issued a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 1.94%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is presently 38.68%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MMM shares. Bank of America raised their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Barclays raised 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Friday, March 7th. JPMorgan Chase & Co. raised their price objective on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.