3M (NYSE:MMM) Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd increased its holdings in shares of 3M (NYSE:MMM - Free Report) by 27.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,958 shares of the conglomerate's stock after acquiring an additional 8,329 shares during the quarter. UniSuper Management Pty Ltd's holdings in 3M were worth $5,029,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MMM. State Street Corp raised its holdings in shares of 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock worth $3,717,503,000 after acquiring an additional 302,900 shares during the period. Bank of New York Mellon Corp increased its position in 3M by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock worth $734,456,000 after purchasing an additional 479,621 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate's stock valued at $521,596,000 after buying an additional 43,942 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 3M by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate's stock valued at $461,761,000 after buying an additional 17,228 shares during the period. Finally, Amundi lifted its holdings in 3M by 55.7% in the fourth quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock valued at $337,815,000 after acquiring an additional 898,244 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

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Insider Buying and Selling at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm's stock in a transaction that occurred on 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 owns 194 shares of the company's stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's stock in a transaction 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 transaction, the insider now owns 5,024 shares of the company's stock, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. 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 ninety days. Corporate insiders own 0.34% of the company's stock.

3M Stock Up 1.1 %

NYSE MMM traded up $1.58 during trading hours on Monday, hitting $146.42. 1,380,358 shares of the company were exchanged, compared to its average volume of 4,122,605. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market cap of $79.49 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 3.30 and a beta of 0.97. The company has a 50 day moving average of $149.60 and a two-hundred day moving average of $138.29. 3M has a 52-week low of $88.23 and a 52-week high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $6.01 billion for the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter last year, the company earned $2.42 earnings per share. The firm's revenue was down 25.0% compared to the same quarter last year. Equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.99%. The ex-dividend date was Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is 38.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised 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. Royal Bank of Canada restated an "underperform" rating and issued a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Saturday, March 22nd. Finally, Barclays increased their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Two research 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. According to MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and an average target price of $149.13.

About 3M

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.