3M (NYSE:MMM) Shares Acquired by J.P. Marvel Investment Advisors LLC

J.P. Marvel Investment Advisors LLC boosted its position in 3M (NYSE:MMM - Free Report) by 30.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,471 shares of the conglomerate's stock after buying an additional 15,457 shares during the quarter. 3M makes up approximately 1.4% of J.P. Marvel Investment Advisors LLC's portfolio, making the stock its 21st biggest position. J.P. Marvel Investment Advisors LLC's holdings in 3M were worth $8,581,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. International Assets Investment Management LLC lifted its holdings in 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate's stock worth $172,416,000 after buying an additional 1,250,491 shares during the period. Jennison Associates LLC bought a new stake in shares of 3M in the 3rd quarter worth approximately $82,208,000. Parsifal Capital Management LP increased its stake in shares of 3M by 179.0% during the third quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate's stock valued at $112,107,000 after buying an additional 526,194 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of 3M by 39.1% during the third quarter. Bank of Montreal Can now owns 1,099,794 shares of the conglomerate's stock valued at $151,002,000 after buying an additional 308,912 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MMM. Royal Bank of Canada reiterated an "underperform" rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and lifted their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Bank of America boosted their price objective on shares of 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Barclays raised their target price on shares of 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 price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $148.87.

Insider Activity

In related news, CAO Theresa E. Reinseth sold 2,309 shares of the firm's stock in a transaction on 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 directly owns 4,417 shares of the company's stock, valued at approximately $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Michael F. Roman sold 49,598 shares of the company's stock in a transaction 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 directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock worth $17,163,446 over the last 90 days. Corporate insiders own 0.38% of the company's stock.

3M Stock Performance

MMM traded up $1.12 during trading on Wednesday, hitting $150.11. The company's stock had a trading volume of 3,216,336 shares, compared to its average volume of 3,966,356. 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 $81.49 billion, a PE ratio of 19.88, a P/E/G ratio of 3.29 and a beta of 0.96. 3M has a one year low of $75.40 and a one year high of $155.00. The business's 50 day simple moving average is $139.53 and its 200-day simple moving average is $134.20.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.77 billion. During the same period in the prior year, the company posted $2.42 earnings per share. The company's revenue for the quarter was down 25.0% compared to the same quarter last year. As a group, sell-side analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business 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 $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is 38.68%.

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.