Profund Advisors LLC Increases Stock Position in 3M Co (NYSE:MMM)

Profund Advisors LLC boosted its stake in 3M Co (NYSE:MMM) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,701 shares of the conglomerate’s stock after purchasing an additional 1,437 shares during the quarter. Profund Advisors LLC’s holdings in 3M were worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Fort Pitt Capital Group LLC raised its stake in 3M by 4.9% in the fourth quarter. Fort Pitt Capital Group LLC now owns 10,330 shares of the conglomerate’s stock valued at $1,822,000 after purchasing an additional 485 shares in the last quarter. Centenus Global Management LP purchased a new position in shares of 3M during the fourth quarter worth approximately $4,411,000. Equitable Trust Co. raised its stake in shares of 3M by 3.1% during the fourth quarter. Equitable Trust Co. now owns 17,299 shares of the conglomerate’s stock worth $3,052,000 after acquiring an additional 525 shares in the last quarter. IHT Wealth Management LLC raised its stake in shares of 3M by 6.2% during the fourth quarter. IHT Wealth Management LLC now owns 3,522 shares of the conglomerate’s stock worth $621,000 after acquiring an additional 207 shares in the last quarter. Finally, Fosun International Ltd raised its stake in shares of 3M by 9.6% during the fourth quarter. Fosun International Ltd now owns 5,710 shares of the conglomerate’s stock worth $1,012,000 after acquiring an additional 500 shares in the last quarter. 68.19% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. Wolfe Research raised shares of 3M from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. raised shares of 3M from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $143.00 to $150.00 in a research note on Monday, December 23rd. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 price target on the stock in a research note on Tuesday, December 10th. Deutsche Bank lifted their price target on shares of 3M from $160.00 to $176.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley decreased their price target on shares of 3M from $175.00 to $156.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. 3M has a consensus rating of “Hold” and a consensus target price of $172.33.

In other news, CEO Michael F. Roman sold 8,906 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $162.00, for a total value of $1,442,772.00. Following the transaction, the chief executive officer now owns 48,152 shares in the company, valued at $7,800,624. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Ty R. Silberhorn sold 1,967 shares of 3M stock in a transaction on Friday, February 21st. The shares were sold at an average price of $158.19, for a total transaction of $311,159.73. Following the completion of the sale, the senior vice president now owns 3,849 shares in the company, valued at approximately $608,873.31. The disclosure for this sale can be found here. Insiders sold 17,123 shares of company stock worth $2,748,744 in the last 90 days. Company insiders own 0.83% of the company’s stock.

Shares of 3M stock traded up $4.64 on Thursday, hitting $136.18. The stock had a trading volume of 6,716,413 shares, compared to its average volume of 4,812,421. The company has a quick ratio of 0.96, a current ratio of 1.41 and a debt-to-equity ratio of 1.79. 3M Co has a one year low of $114.04 and a one year high of $219.75. The stock has a market cap of $76.32 billion, a price-to-earnings ratio of 17.44, a PEG ratio of 1.55 and a beta of 1.08. The stock’s 50-day simple moving average is $149.59 and its two-hundred day simple moving average is $164.42.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 28th. The conglomerate reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.15). 3M had a return on equity of 51.39% and a net margin of 14.22%. The firm had revenue of $8.11 billion during the quarter, compared to the consensus estimate of $8.12 billion. During the same quarter in the prior year, the business posted $2.31 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that 3M Co will post 9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 14th were issued a $1.47 dividend. This is a boost from 3M’s previous quarterly dividend of $1.44. The ex-dividend date was Thursday, February 13th. This represents a $5.88 annualized dividend and a dividend yield of 4.32%. 3M’s dividend payout ratio (DPR) is currently 64.62%.

About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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