D1 Capital Partners L.P. Invests $175.11 Million in 3M (NYSE:MMM)

D1 Capital Partners L.P. acquired a new stake in 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,356,493 shares of the conglomerate's stock, valued at approximately $175,110,000. 3M comprises about 2.9% of D1 Capital Partners L.P.'s investment portfolio, making the stock its 10th biggest position. D1 Capital Partners L.P. owned about 0.25% of 3M as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wayfinding Financial LLC purchased a new stake in shares of 3M during the fourth quarter valued at $851,000. Franklin Resources Inc. lifted its position in 3M by 26.8% during the 3rd 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 during the period. Meyer Handelman Co. increased its holdings in shares of 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock valued at $25,511,000 after purchasing an additional 2,678 shares during the period. USA Financial Formulas purchased a new position in shares of 3M in the fourth quarter worth about $816,000. Finally, Braun Stacey Associates Inc. lifted its holdings in shares of 3M by 18.4% during the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after purchasing an additional 22,203 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Transactions at 3M

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction 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 completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. This represents a 55.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 in the last 90 days. Insiders own 0.34% of the company's stock.

3M Stock Performance

NYSE:MMM opened at $136.06 on Thursday. The company has a market cap of $73.38 billion, a P/E ratio of 18.02, a P/E/G ratio of 3.30 and a beta of 1.01. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a twelve month low of $90.65 and a twelve month high of $156.35. The company's 50-day moving average price is $143.57 and its 200-day moving average price is $138.17.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. On average, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.15%. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M's payout ratio is presently 38.68%.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of recent research reports. Barclays raised their price target on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America raised their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Royal Bank of Canada upped their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

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.

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