Wellington Management Group LLP Buys 2,681 Shares of 3M (NYSE:MMM)

Wellington Management Group LLP grew its stake in 3M (NYSE:MMM - Free Report) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 614,438 shares of the conglomerate's stock after buying an additional 2,681 shares during the quarter. Wellington Management Group LLP owned 0.11% of 3M worth $79,318,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. State Street Corp lifted its stake in 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock valued at $3,717,503,000 after acquiring an additional 302,900 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 3M by 9.2% in 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 purchasing an additional 479,621 shares in the last quarter. Norges Bank acquired a new position in 3M during the fourth quarter worth $636,767,000. Charles Schwab Investment Management Inc. boosted its holdings in 3M by 0.5% during the fourth 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 during the last quarter. Finally, Amundi grew its position in 3M by 55.7% in the fourth quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock valued at $337,815,000 after purchasing an additional 898,244 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

3M Stock Performance

MMM stock traded down $13.12 during trading hours on Friday, hitting $126.62. 9,608,022 shares of the stock were exchanged, compared to its average volume of 4,099,389. 3M has a 12 month low of $90.17 and a 12 month high of $156.35. 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 firm has a market capitalization of $68.29 billion, a P/E ratio of 16.77, a P/E/G ratio of 3.30 and a beta of 1.01. The company has a 50-day simple moving average of $149.05 and a two-hundred day simple moving average of $138.55.

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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 for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.77 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The business's revenue was down 25.0% on a year-over-year basis. On average, analysts forecast that 3M will post 7.8 earnings per share 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 issued a $0.73 dividend. The ex-dividend date 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 2.31%. 3M's payout ratio is currently 38.68%.

Insider Activity

In other news, Chairman Michael F. Roman sold 49,598 shares of the company's 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 sale, the chairman now owns 180,895 shares of the company's stock, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company's stock, valued at approximately $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 113,639 shares of company stock worth $17,163,446. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued an "underperform" rating and issued a $96.00 target price on shares of 3M in a research note on Thursday, February 27th. Citigroup upped their price target on shares of 3M from $142.00 to $152.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Finally, Barclays lifted their price objective on shares of 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.