3M (NYSE:MMM) Shares Acquired by Savant Capital LLC

Savant Capital LLC raised its holdings in shares of 3M (NYSE:MMM) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,518 shares of the conglomerate’s stock after acquiring an additional 2,907 shares during the quarter. Savant Capital LLC’s holdings in 3M were worth $9,620,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. International Assets Investment Management LLC boosted its position in shares of 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares during the period. Jennison Associates LLC acquired a new stake in shares of 3M in the 3rd quarter valued at about $82,208,000. Parsifal Capital Management LP boosted its position in shares of 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock valued at $112,107,000 after purchasing an additional 526,194 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of 3M by 39.1% in the 3rd quarter. Bank of Montreal Can now owns 1,099,794 shares of the conglomerate’s stock valued at $151,002,000 after purchasing an additional 308,912 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity at 3M

In other 3M news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now owns 5,024 shares in the company, valued at approximately $750,736.32. This represents a 55.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

3M Stock Performance

NYSE MMM opened at $149.59 on Tuesday. 3M has a 1-year low of $75.40 and a 1-year high of $155.00. The company has a market capitalization of $81.21 billion, a P/E ratio of 19.81, a PEG ratio of 3.37 and a beta of 0.96. The business has a 50 day moving average price of $137.11 and a 200 day moving average price of $132.92. 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 (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same period last year, the business posted $2.42 EPS. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. Sell-side analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be paid a $0.73 dividend. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.95%. The ex-dividend date is Friday, February 14th. 3M’s dividend payout ratio (DPR) is presently 37.09%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MMM. UBS Group raised 3M from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Mizuho increased their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Citigroup increased their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.87.

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.