Generali Asset Management SPA SGR acquired a new position in shares of 3M (NYSE:MMM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 39,562 shares of the conglomerate's stock, valued at approximately $5,107,000.
Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC boosted its position in shares of 3M by 44.8% during the 3rd quarter. Natixis Advisors LLC now owns 154,449 shares of the conglomerate's stock worth $21,113,000 after acquiring an additional 47,817 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in 3M by 5.6% in the third quarter. Thrivent Financial for Lutherans now owns 64,013 shares of the conglomerate's stock valued at $8,751,000 after purchasing an additional 3,404 shares in the last quarter. Baron Wealth Management LLC boosted its holdings in 3M by 5.4% in the third quarter. Baron Wealth Management LLC now owns 2,909 shares of the conglomerate's stock valued at $398,000 after purchasing an additional 150 shares in the last quarter. Pathstone Holdings LLC increased its stake in 3M by 1.4% in the third quarter. Pathstone Holdings LLC now owns 74,143 shares of the conglomerate's stock valued at $10,135,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Caprock Group LLC lifted its position in shares of 3M by 8.6% during the 3rd quarter. Caprock Group LLC now owns 19,768 shares of the conglomerate's stock worth $2,702,000 after buying an additional 1,565 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.
3M Price Performance
Shares of NYSE MMM traded down $0.92 during trading on Friday, hitting $150.35. 5,538,508 shares of the company were exchanged, compared to its average volume of 4,030,867. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1 year low of $85.62 and a 1 year high of $156.35. The company has a market cap of $81.63 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 3.30 and a beta of 0.97. The firm's fifty day moving average price is $148.35 and its 200 day moving average price is $137.52.
3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 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 for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. The firm's revenue was down 25.0% on a year-over-year basis. On average, sell-side analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.
3M Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.94%. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is presently 38.68%.
Analyst Ratings Changes
A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the stock 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 Friday, March 7th. Barclays upped their price objective on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, Bank of America upped their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $149.13.
View Our Latest Stock Report on MMM
Insider Buying and Selling
In other news, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $150.01, for a total value of $6,791,852.76. Following the sale, the chairman now directly owns 175,718 shares in the company, valued at $26,359,457.18. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the transaction, the chief accounting officer now owns 4,417 shares of the company's stock, valued at $662,329.15. This represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,639 shares of company stock valued at $17,163,446. 0.34% of the stock is owned by insiders.
About 3M
(
Free Report)
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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