Schroder Investment Management Group Sells 743,870 Shares of 3M (NYSE:MMM)

Schroder Investment Management Group cut its holdings in shares of 3M (NYSE:MMM - Free Report) by 66.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 375,032 shares of the conglomerate's stock after selling 743,870 shares during the quarter. Schroder Investment Management Group owned approximately 0.07% of 3M worth $48,428,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the transaction, the insider now owns 5,024 shares in the company, valued at $750,736.32. The trade was a 55.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 194 shares of the company's stock, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last three months. 0.34% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MMM shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday, March 22nd. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. upped their target price on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Finally, Barclays lifted their price target on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $149.13.

3M Stock Up 0.6 %

Shares of NYSE MMM traded up $0.88 during mid-day trading on Tuesday, reaching $147.74. 3,641,250 shares of the company's stock traded hands, compared to its average volume of 4,097,468. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1-year low of $89.54 and a 1-year high of $156.35. The stock has a market cap of $79.68 billion, a P/E ratio of 19.57, a PEG ratio of 3.30 and a beta of 0.97. The business has a 50-day simple moving average of $149.73 and a 200 day simple moving average of $138.49.

3M (NYSE:MMM - Get Free Report) last released its quarterly 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the business earned $2.42 EPS. The company's quarterly revenue was down 25.0% on a year-over-year basis. On average, analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.98%. 3M's dividend payout ratio (DPR) is 38.68%.

3M 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.