3M (NYSE:MMM) Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its position in shares of 3M (NYSE:MMM - Free Report) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,773 shares of the conglomerate's stock after purchasing an additional 11,032 shares during the period. American Century Companies Inc.'s holdings in 3M were worth $13,267,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Mizuho Securities USA LLC increased its position in shares of 3M by 44.9% during the fourth quarter. Mizuho Securities USA LLC now owns 51,612 shares of the conglomerate's stock valued at $6,663,000 after acquiring an additional 15,989 shares during the last quarter. Sciencast Management LP raised its position in 3M by 165.2% in the fourth quarter. Sciencast Management LP now owns 13,616 shares of the conglomerate's stock valued at $1,758,000 after purchasing an additional 8,482 shares during the period. Wayfinding Financial LLC acquired a new position in 3M during the fourth quarter worth $851,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of 3M by 1.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 35,356 shares of the conglomerate's stock worth $4,564,000 after buying an additional 534 shares during the period. Finally, iA Global Asset Management Inc. raised its holdings in shares of 3M by 1,468.3% in the 4th quarter. iA Global Asset Management Inc. now owns 55,250 shares of the conglomerate's stock valued at $7,132,000 after buying an additional 51,727 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the company's 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 transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MMM shares. JPMorgan Chase & Co. boosted their price target on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reiterated an "underperform" rating and set a $96.00 target price on shares of 3M in a report on Thursday, February 27th. Bank of America boosted their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and an average price target of $149.13.

3M Stock Performance

Shares of 3M stock traded down $8.00 on Thursday, hitting $139.76. The stock had a trading volume of 6,707,123 shares, compared to its average volume of 4,089,970. The company's 50 day moving average price is $149.71 and its 200 day moving average price is $138.56. 3M has a 52-week low of $89.54 and a 52-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. The stock has a market cap of $75.38 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during 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%. The business's revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the business earned $2.42 EPS. On average, research analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a $0.73 dividend. 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 2.09%. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is currently 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.