Sciencast Management LP Raises Stock Holdings in 3M (NYSE:MMM)

Sciencast Management LP raised its stake in shares of 3M (NYSE:MMM - Free Report) by 165.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,616 shares of the conglomerate's stock after buying an additional 8,482 shares during the quarter. Sciencast Management LP's holdings in 3M were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Financial Life Planners purchased a new position in 3M during the fourth quarter valued at $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M during the 4th quarter valued at about $26,000. FSA Wealth Management LLC purchased a new position in shares of 3M during the third quarter valued at about $27,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, ORG Partners LLC lifted its position in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after buying an additional 98 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 0.2 %

MMM stock traded up $0.38 during trading on Tuesday, hitting $153.53. The company had a trading volume of 4,117,823 shares, compared to its average volume of 4,016,881. 3M has a 52-week low of $85.62 and a 52-week high of $156.35. The company has a 50 day simple moving average of $149.05 and a 200-day simple moving average of $137.88. The firm has a market capitalization of $83.35 billion, a P/E ratio of 20.34, a PEG ratio of 3.30 and a beta of 0.97. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

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3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company's quarterly revenue was down 25.0% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. As a group, research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were given a dividend of $0.73 per share. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.90%. 3M's dividend payout ratio is presently 38.68%.

Insider Activity at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm's stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the completion of the sale, the insider now owns 5,153 shares of the company's stock, valued at approximately $774,238.25. This trade represents a 24.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction 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 $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. Insiders sold 113,639 shares of company stock worth $17,163,446 over the last three months. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research reports. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Bank of America lifted their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday. Finally, Royal Bank of Canada reiterated an "underperform" rating and issued a $96.00 price target on shares of 3M in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $149.13.

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.