Asset Management One Co. Ltd. Has $38.77 Million Holdings in 3M (NYSE:MMM)

Asset Management One Co. Ltd. lowered its position in shares of 3M (NYSE:MMM - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 297,841 shares of the conglomerate's stock after selling 53,987 shares during the quarter. Asset Management One Co. Ltd. owned 0.05% of 3M worth $38,773,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. D.A. Davidson & CO. increased its position in shares of 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate's stock valued at $20,004,000 after buying an additional 20,421 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock worth $114,770,000 after acquiring an additional 178,450 shares in the last quarter. Meyer Handelman Co. raised its position in shares of 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock worth $25,511,000 after purchasing an additional 2,678 shares during the period. Ballentine Partners LLC lifted its holdings in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate's stock valued at $2,490,000 after purchasing an additional 5,210 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its position in shares of 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate's stock valued at $34,564,000 after purchasing an additional 13,473 shares during the period. Institutional investors own 65.25% of the company's stock.

Insider Buying and Selling

In other news, Chairman Michael F. Roman sold 49,598 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. This represents a 21.52 % 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, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares of the company's stock, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by insiders.

3M Stock Up 0.3 %

MMM traded up $0.46 during trading on Tuesday, reaching $149.08. 924,909 shares of the stock were exchanged, compared to its average volume of 3,933,842. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock's 50 day moving average price is $139.15 and its two-hundred day moving average price is $134.03. 3M has a twelve month low of $75.40 and a twelve month high of $155.00. The stock has a market cap of $80.94 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping 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 company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. During the same period in the previous year, the business earned $2.42 EPS. 3M's revenue for the quarter was down 25.0% compared to the same quarter last year. Equities analysts expect that 3M will post 7.8 EPS for the current 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 paid a dividend of $0.73 per share. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, February 14th. 3M's payout ratio is currently 37.09%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Melius Research raised shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective 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. Wells Fargo & Company upgraded 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 report on Wednesday, January 22nd. Melius upgraded 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued an "underperform" rating and issued a $96.00 target price on shares of 3M in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, 3M currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.87.

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.