Jump Financial LLC Has $17.86 Million Holdings in 3M (NYSE:MMM)

Jump Financial LLC grew its position in 3M (NYSE:MMM - Free Report) by 1,308.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,373 shares of the conglomerate's stock after acquiring an additional 128,546 shares during the quarter. Jump Financial LLC's holdings in 3M were worth $17,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of 3M by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after buying an additional 280,048 shares during the last quarter. Bank of New York Mellon Corp raised its stake in 3M by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock worth $734,456,000 after acquiring an additional 479,621 shares during the period. Norges Bank bought a new position in 3M in the fourth quarter worth about $636,767,000. Invesco Ltd. boosted its stake in 3M by 51.6% in the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock valued at $576,845,000 after acquiring an additional 1,520,619 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 3M by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate's stock worth $461,761,000 after purchasing an additional 17,228 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company's stock, valued at $29,918.68. The trade was a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,639 shares of company stock worth $17,163,446. Corporate insiders own 0.48% of the company's stock.

Analysts Set New Price Targets

MMM has been the subject of a number of analyst reports. 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 report on Tuesday, April 8th. Citigroup lowered their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Royal Bank of Canada reiterated an "underperform" rating and issued a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Tuesday, April 8th. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus price target of $146.47.

3M Stock Performance

MMM traded down $0.30 on Friday, hitting $130.16. The company had a trading volume of 4,951,917 shares, compared to its average volume of 4,151,045. The stock has a market cap of $70.20 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. 3M has a 1-year low of $90.65 and a 1-year high of $156.35. 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 company's fifty day moving average price is $144.53 and its 200 day moving average price is $138.22.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) 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 last year, the business posted $2.42 EPS. The business's quarterly revenue was down 25.0% on a year-over-year basis. Equities analysts predict 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 issued a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 2.24%. This is a boost from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is currently 38.68%.

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.