Operose Advisors LLC Has $576,000 Stock Position in 3M (NYSE:MMM)

Operose Advisors LLC lifted its stake in shares of 3M (NYSE:MMM - Free Report) by 1,677.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,461 shares of the conglomerate's stock after acquiring an additional 4,210 shares during the period. Operose Advisors LLC's holdings in 3M were worth $576,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MMM. Geode Capital Management LLC increased its holdings in shares of 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 buying an additional 280,048 shares during the last quarter. Bank of New York Mellon Corp increased 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 last quarter. Norges Bank acquired a new position in shares of 3M in the 4th quarter valued at about $636,767,000. Invesco Ltd. grew its holdings in shares of 3M by 51.6% during the 4th quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock worth $576,845,000 after purchasing an additional 1,520,619 shares during the period. 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 purchasing an additional 17,228 shares in the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

MMM traded down $0.30 on Friday, hitting $130.16. 4,951,917 shares of the company's stock were exchanged, compared to its average volume of 4,151,045. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a fifty day moving average of $144.53 and a two-hundred day moving average of $138.22. 3M has a twelve month low of $90.65 and a twelve month high of $156.35. The firm has a market cap of $70.20 billion, a PE ratio of 17.24, a P/E/G ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion for 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%. The firm's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the business posted $2.42 earnings per share. On average, research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.24%. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio is presently 38.68%.

Analyst Ratings Changes

MMM has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Tuesday, April 8th. Bank of America boosted their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Barclays lowered their price target on shares of 3M from $165.00 to $160.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, 3M has an average rating of "Moderate Buy" and an average price target of $146.47.

Insider Activity at 3M

In other news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction 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 completion of the transaction, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business's stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 4,417 shares in the company, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.48% 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.