Motley Fool Asset Management LLC Has $3.23 Million Holdings in 3M (NYSE:MMM)

Motley Fool Asset Management LLC increased its holdings in shares of 3M (NYSE:MMM - Free Report) by 13.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,020 shares of the conglomerate's stock after acquiring an additional 2,910 shares during the quarter. Motley Fool Asset Management LLC's holdings in 3M were worth $3,230,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MMM. State Street Corp lifted its position in 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock worth $3,717,503,000 after acquiring an additional 302,900 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 3M by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock worth $1,493,655,000 after purchasing an additional 280,048 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after purchasing an additional 479,621 shares during the period. Norges Bank acquired a new position in 3M in the 4th quarter valued at $636,767,000. Finally, Charles Schwab Investment Management Inc. increased its position in 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 buying an additional 17,228 shares during the period. Institutional investors own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday, March 22nd. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Barclays increased their target price on shares of 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Bank of America raised their price objective 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 issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $149.13.

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3M Price Performance

3M stock traded down $13.12 during midday trading on Friday, reaching $126.62. The company's stock had a trading volume of 9,608,022 shares, compared to its average volume of 4,099,389. The stock has a market cap of $68.29 billion, a PE ratio of 16.77, a price-to-earnings-growth 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 52 week low of $90.17 and a 52 week high of $156.35. The business has a 50-day moving average price of $149.05 and a 200-day moving average price of $138.55.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 EPS. On average, sell-side analysts predict that 3M will post 7.8 EPS for the current 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 given a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 2.31%. This is a positive change from 3M's previous quarterly dividend of $0.70. 3M's payout ratio is currently 38.68%.

Insiders Place Their Bets

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the company's stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.43, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Victoria Clarke sold 1,750 shares of 3M 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 in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,639 shares of company stock valued at $17,163,446 in the last 90 days. Corporate insiders own 0.34% of the company's stock.

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.