3M (NYSE:MMM) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC raised its holdings in 3M (NYSE:MMM - Free Report) by 304.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,091 shares of the conglomerate's stock after acquiring an additional 58,787 shares during the quarter. Ieq Capital LLC's holdings in 3M were worth $10,081,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. D.A. Davidson & CO. lifted its stake in shares of 3M by 16.2% in the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate's stock valued at $20,004,000 after purchasing an additional 20,421 shares during the period. Franklin Resources Inc. increased its holdings in 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock valued at $114,770,000 after buying an additional 178,450 shares in the last quarter. Meyer Handelman Co. lifted its position in shares of 3M by 1.4% during the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock valued at $25,511,000 after acquiring an additional 2,678 shares during the period. Ballentine Partners LLC boosted its stake in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate's stock worth $2,490,000 after acquiring an additional 5,210 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Trading Down 2.8 %

Shares of MMM stock traded down $4.21 during mid-day trading on Friday, hitting $144.87. 4,278,493 shares of the company's stock were exchanged, compared to its average volume of 3,924,529. The stock has a market cap of $78.65 billion, a price-to-earnings ratio of 19.19, a PEG ratio of 3.32 and a beta of 0.96. The stock has a 50-day simple moving average of $140.32 and a two-hundred day simple moving average of $134.41. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 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 during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the previous year, the business earned $2.42 EPS. The firm's revenue was down 25.0% on a year-over-year basis. Equities analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.73 per share. 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 2.02%. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 38.68%.

Wall Street Analyst Weigh In

MMM has been the subject of several research reports. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. increased their price objective on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Bank of America lifted their target price on shares of 3M from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, January 22nd. Finally, Citigroup increased their price target on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.87.

Insider Buying and Selling at 3M

In related news, Chairman Michael F. Roman sold 49,598 shares of the firm'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 value of $7,553,775.40. Following the transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the transaction, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. This trade represents a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 in the last quarter. 0.34% of the stock is owned by insiders.

3M Company 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.