M&T Bank Corp Has $35.27 Million Stock Position in 3M (NYSE:MMM)

M&T Bank Corp lessened its stake in 3M (NYSE:MMM - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,195 shares of the conglomerate's stock after selling 4,837 shares during the period. M&T Bank Corp owned 0.05% of 3M worth $35,266,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MMM. Chicago Partners Investment Group LLC raised its position in 3M by 10.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,569 shares of the conglomerate's stock worth $712,000 after purchasing an additional 531 shares during the last quarter. Van ECK Associates Corp raised its position in shares of 3M by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 88,912 shares of the conglomerate's stock valued at $11,373,000 after acquiring an additional 8,816 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of 3M by 55.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 549,274 shares of the conglomerate's stock valued at $75,086,000 after acquiring an additional 195,191 shares during the last quarter. Roman Butler Fullerton & Co. bought a new stake in shares of 3M during the 3rd quarter valued at $206,000. Finally, National Pension Service raised its position in shares of 3M by 14.5% during the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate's stock valued at $173,336,000 after acquiring an additional 161,036 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Stock Up 1.3 %

Shares of 3M stock traded up $1.88 during trading hours on Wednesday, reaching $147.74. 3,909,629 shares of the company's stock were exchanged, compared to its average volume of 4,307,404. 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 company has a 50 day moving average of $143.87 and a two-hundred day moving average of $135.96. The stock has a market cap of $80.21 billion, a P/E ratio of 19.57, a P/E/G ratio of 3.30 and a beta of 0.96. 3M has a fifty-two week low of $76.86 and a fifty-two 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 (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 analysts' expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. 3M's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. On average, sell-side analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.73 per share. The ex-dividend date of this dividend is Friday, February 14th. 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 1.98%. 3M's dividend payout ratio (DPR) is currently 38.68%.

Analyst Upgrades and Downgrades

MMM has been the subject of several recent research reports. Royal Bank of Canada reiterated an "underperform" rating and set a $96.00 target price on shares of 3M in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Weiss Ratings reissued a "hold (c)" rating on shares of 3M in a report on Wednesday, February 19th. Bank of America boosted their price target on shares of 3M from $160.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, January 22nd. Finally, Barclays boosted their price target on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a 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's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.87.

Insider Transactions at 3M

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at $750,736.32. This represents a 55.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by company insiders.

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.