AJOVista LLC Invests $240,000 in 3M (NYSE:MMM)

AJOVista LLC bought a new position in shares of 3M (NYSE:MMMFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,198 shares of the conglomerate’s stock, valued at approximately $240,000.

Several other hedge funds have also made changes to their positions in MMM. Pacer Advisors Inc. lifted its position in 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after purchasing an additional 3,508,334 shares during the period. Los Angeles Capital Management LLC lifted its position in 3M by 157.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock valued at $197,377,000 after purchasing an additional 1,103,459 shares during the period. International Assets Investment Management LLC lifted its position in 3M by 8,766.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock valued at $118,168,000 after purchasing an additional 1,068,748 shares during the period. Van ECK Associates Corp lifted its position in 3M by 20.8% in the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock valued at $275,630,000 after purchasing an additional 506,654 shares during the period. Finally, FMR LLC increased its holdings in 3M by 29.8% in the third quarter. FMR LLC now owns 1,908,914 shares of the conglomerate’s stock valued at $178,713,000 after buying an additional 438,424 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MMM. Wells Fargo & Company dropped their target price on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. UBS Group increased their target price on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. raised shares of 3M from a “neutral” rating to an “overweight” rating and increased their target price for the company from $110.00 to $111.00 in a report on Wednesday. Mizuho reaffirmed a “neutral” rating and issued a $105.00 target price on shares of 3M in a report on Wednesday, March 27th. Finally, Barclays dropped their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $103.70.

Read Our Latest Stock Analysis on 3M

Insider Buying and Selling

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

3M Trading Up 0.4 %

NYSE MMM traded up $0.34 during mid-day trading on Friday, reaching $97.15. 4,818,713 shares of the stock were exchanged, compared to its average volume of 4,770,578. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The business’s fifty day simple moving average is $96.14 and its 200 day simple moving average is $97.59. The stock has a market capitalization of $53.76 billion, a PE ratio of -7.64, a PEG ratio of 1.78 and a beta of 1.00. The company has a debt-to-equity ratio of 4.17, a quick ratio of 0.76 and a current ratio of 1.64.

3M (NYSE:MMMGet Free Report) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same quarter last year, the business earned $1.97 earnings per share. On average, research analysts anticipate that 3M will post 7.23 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.22%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is -47.48%.

About 3M

(Free Report)

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.

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

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