3M (NYSE:MMM) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd lifted its stake in shares of 3M (NYSE:MMM - Free Report) by 88.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 410,152 shares of the conglomerate's stock after acquiring an additional 192,580 shares during the quarter. 3M makes up approximately 0.7% of Mediolanum International Funds Ltd's holdings, making the stock its 28th biggest position. Mediolanum International Funds Ltd owned about 0.08% of 3M worth $52,833,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MMM. FSA Wealth Management LLC purchased a new position in 3M in the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares in the last quarter. ORG Partners LLC raised its holdings in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock valued at $42,000 after purchasing an additional 296 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Michael F. Roman sold 49,598 shares of the company's stock in a transaction on Wednesday, January 29th. The stock was 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 of the company's stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last three months. 0.38% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Bank of America boosted their target price on 3M from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "underperform" rating and issued a $96.00 price objective on shares of 3M in a research report on Wednesday, January 22nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of 3M in a research report on Saturday, January 18th. Finally, Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, 3M currently has an average rating of "Moderate Buy" and an average price target of $148.87.

3M Stock Performance

Shares of 3M stock traded down $2.07 on Monday, reaching $150.13. 3,554,168 shares of the stock were exchanged, compared to its average volume of 4,570,215. The business has a 50 day moving average price of $135.21 and a two-hundred day moving average price of $131.26. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $81.76 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 3.37 and a beta of 0.96. 3M has a twelve month low of $75.40 and a twelve month high of $155.00.

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

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend payout ratio (DPR) is presently 37.09%.

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.