Quantessence Capital LLC Makes New Investment in 3M (NYSE:MMM)

Quantessence Capital LLC acquired a new stake in 3M (NYSE:MMM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,248 shares of the conglomerate's stock, valued at approximately $419,000.

Other institutional investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new stake in shares of 3M in the 4th quarter valued at $851,000. Franklin Resources Inc. lifted its holdings in 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock valued at $114,770,000 after purchasing an additional 178,450 shares during the last quarter. Meyer Handelman Co. boosted its position in 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock valued at $25,511,000 after buying an additional 2,678 shares in the last quarter. USA Financial Formulas bought a new stake in 3M during the fourth quarter worth about $816,000. Finally, Braun Stacey Associates Inc. increased its holdings in shares of 3M by 18.4% during the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after buying an additional 22,203 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Down 1.1 %

Shares of NYSE:MMM traded down $1.58 during midday trading on Friday, hitting $137.30. The company had a trading volume of 2,141,243 shares, compared to its average volume of 4,172,344. 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 12 month low of $90.65 and a 12 month high of $156.35. The firm has a fifty day simple moving average of $143.38 and a 200 day simple moving average of $138.19. The stock has a market cap of $74.05 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 3.30 and a beta of 1.01.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio is presently 38.68%.

Insiders Place Their Bets

In related news, EVP Victoria Clarke sold 1,750 shares of the firm's 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 sale, the executive vice president now owns 194 shares of the company's stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Michael F. Roman sold 49,598 shares of the business's stock in a transaction dated 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 directly owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,736 shares of company stock worth $9,081,260. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MMM. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Thursday. Royal Bank of Canada raised their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday. Citigroup reduced their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays raised their price objective on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Bank of America upped 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. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

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.