3M (NYSE:MMM) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd boosted its position in 3M (NYSE:MMM) by 27.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,958 shares of the conglomerate’s stock after purchasing an additional 8,329 shares during the quarter. UniSuper Management Pty Ltd’s holdings in 3M were worth $5,029,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in shares of 3M in the fourth quarter worth about $25,000. FSA Wealth Management LLC acquired a new stake in 3M in the 3rd quarter valued at about $27,000. True Wealth Design LLC lifted its stake in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its holdings in shares of 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other 3M news, EVP Victoria Clarke sold 1,750 shares of the firm’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 sale, the executive vice president now owns 194 shares of the company’s stock, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the completion of the transaction, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. The trade was a 24.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several analyst reports. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays raised their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Citigroup upped their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 target price on shares of 3M in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. upped their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two investment 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, 3M presently has an average rating of “Moderate Buy” and an average target price of $149.13.

3M Stock Performance

NYSE:MMM opened at $144.74 on Friday. The company has a market cap of $78.58 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth 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. 3M has a 52 week low of $88.23 and a 52 week high of $156.35. The company has a fifty day simple moving average of $149.60 and a two-hundred day simple moving average of $138.17.

3M (NYSE:MMM) last issued its quarterly earnings results 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. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $2.42 EPS. As a group, equities analysts anticipate 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. Shareholders of record on Friday, February 14th were issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s payout ratio is 38.68%.

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.