3M (NYSE:MMM) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd lowered its holdings in 3M (NYSE:MMM - Free Report) by 18.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,984 shares of the conglomerate's stock after selling 3,600 shares during the period. Vinva Investment Management Ltd's holdings in 3M were worth $2,064,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MMM. Xponance Inc. increased its holdings in 3M by 1.0% during the 4th quarter. Xponance Inc. now owns 96,536 shares of the conglomerate's stock worth $12,462,000 after purchasing an additional 971 shares during the period. Intech Investment Management LLC lifted its stake in 3M by 30.4% in the fourth quarter. Intech Investment Management LLC now owns 87,856 shares of the conglomerate's stock worth $11,341,000 after acquiring an additional 20,471 shares during the last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of 3M in the 4th quarter valued at $5,107,000. Evoke Wealth LLC grew its stake in shares of 3M by 3.2% during the fourth quarter. Evoke Wealth LLC now owns 12,202 shares of the conglomerate's stock worth $1,575,000 after purchasing an additional 373 shares in the last quarter. Finally, Kennondale Capital Management LLC purchased a new position in 3M in the fourth quarter valued at $2,751,000. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Price Performance

Shares of MMM stock traded up $0.38 during midday trading on Tuesday, reaching $153.53. 4,117,823 shares of the company traded hands, compared to its average volume of 4,027,325. The firm's 50 day simple moving average is $148.72 and its two-hundred day simple moving average is $137.71. The firm has a market cap of $83.35 billion, a PE ratio of 20.34, a price-to-earnings-growth ratio of 3.30 and a beta of 0.97. 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 $85.62 and a 1-year high of $156.35.

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3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during 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%. 3M's revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. On average, equities research analysts expect that 3M will post 7.8 EPS 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 issued a dividend of $0.73 per share. This is an increase from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.90%. The ex-dividend date was Friday, February 14th. 3M's dividend payout ratio (DPR) is 38.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Bank of America lifted their price target 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. Royal Bank of Canada reiterated an "underperform" rating and set a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Saturday. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Finally, Barclays boosted their price objective on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Two equities research 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $149.13.

Insiders Place Their Bets

In other news, insider Christian T. Goralski, Jr. sold 6,318 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 5,024 shares of the company's stock, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,639 shares of company stock worth $17,163,446. Insiders own 0.34% of the company's stock.

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.