3M (NYSE:MMM) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its position in 3M (NYSE:MMM) by 29.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,138 shares of the conglomerate’s stock after acquiring an additional 12,349 shares during the period. Edgestream Partners L.P.’s holdings in 3M were worth $6,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. QRG Capital Management Inc. increased its holdings in shares of 3M by 1.4% in the third quarter. QRG Capital Management Inc. now owns 14,319 shares of the conglomerate’s stock valued at $1,957,000 after purchasing an additional 199 shares during the last quarter. Catalina Capital Group LLC acquired a new position in 3M in the third quarter valued at approximately $250,000. Blake Schutter Theil Wealth Advisors LLC purchased a new position in 3M in the third quarter worth approximately $240,000. Wealth Architects LLC purchased a new stake in 3M in the third quarter valued at $240,000. Finally, Wilkinson Global Asset Management LLC acquired a new position in shares of 3M in the 3rd quarter valued at $251,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Down 0.4 %

MMM stock opened at $146.98 on Friday. 3M has a fifty-two week low of $77.01 and a fifty-two week high of $156.35. The company’s 50 day moving average price is $144.19 and its 200 day moving average price is $136.03. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market capitalization of $79.80 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 3.30 and a beta of 0.96.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue was down 25.0% on a year-over-year basis. During the same period last year, the business earned $2.42 EPS. On average, equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be issued a $0.73 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is presently 38.68%.

Insider Transactions at 3M

In other news, 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 value of $247,161.25. Following the completion of the transaction, the insider now owns 5,153 shares in the company, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.55. Following the completion of the transaction, the chief accounting officer now directly owns 4,417 shares in the company, valued at $662,329.15. This trade represents a 34.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,639 shares of company stock valued at $17,163,446. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on MMM shares. Barclays boosted their price objective on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their price target on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Wednesday, February 19th. Citigroup boosted their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.