AustralianSuper Pty Ltd Has $42.21 Million Stake in 3M (NYSE:MMM)

AustralianSuper Pty Ltd lessened its position in 3M (NYSE:MMM - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 327,005 shares of the conglomerate's stock after selling 28,183 shares during the quarter. AustralianSuper Pty Ltd owned approximately 0.06% of 3M worth $42,213,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Gilbert & Cook Inc. lifted its position in shares of 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after purchasing an additional 73 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in shares of 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after buying an additional 76 shares during the last quarter. Wynn Capital LLC grew its holdings in shares of 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate's stock valued at $1,509,000 after acquiring an additional 80 shares in the last quarter. Harbour Investments Inc. raised its holdings in 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate's stock worth $1,443,000 after acquiring an additional 81 shares in the last quarter. Finally, William Allan Corp boosted its position in 3M by 1.4% during the fourth quarter. William Allan Corp now owns 5,959 shares of the conglomerate's stock valued at $769,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Price Performance

NYSE:MMM traded up $0.23 during mid-day trading on Tuesday, reaching $148.85. The stock had a trading volume of 2,544,042 shares, compared to its average volume of 3,955,163. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The stock has a market capitalization of $80.81 billion, a PE ratio of 19.71, a P/E/G ratio of 3.37 and a beta of 0.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $139.15 and a two-hundred day simple moving average of $134.03.

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

3M Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be given a $0.73 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 37.09%.

Insiders Place Their Bets

In other news, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the company's 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 completion of the transaction, the chairman now owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MMM has been the subject of several analyst reports. Melius Research raised shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and upped their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius upgraded 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Citigroup upped their price objective on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada reiterated an "underperform" rating and set a $96.00 target price on shares of 3M in a research note 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. Based on data from MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and an average 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.