Generali Investments CEE investicni spolecnost a.s. Purchases New Stake in 3M (NYSE:MMM)

Generali Investments CEE investicni spolecnost a.s. acquired a new position in shares of 3M (NYSE:MMM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,435 shares of the conglomerate’s stock, valued at approximately $1,993,000.

Several other institutional investors have also recently bought and sold shares of MMM. Financial Life Planners purchased a new position in shares of 3M during the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC bought a new position in 3M during the 4th quarter valued at $26,000. FSA Wealth Management LLC purchased a new position in 3M during the 3rd quarter worth $27,000. Daymark Wealth Partners LLC grew its stake in shares of 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 19,552 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

3M stock opened at $146.36 on Friday. The firm has a market capitalization of $79.46 billion, a P/E ratio of 19.38, a PEG ratio of 3.30 and a beta of 0.97. 3M has a one year low of $78.14 and a one year high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a fifty day moving average price of $144.51 and a 200-day moving average price of $136.23.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping 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 business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s revenue was down 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is 38.68%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MMM. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. JPMorgan Chase & Co. increased their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Citigroup lifted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. 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 MarketBeat, 3M presently has an average rating of “Moderate Buy” and an average target price of $149.13.

Insiders Place Their Bets

In related news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction on Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,639 shares of company stock worth $17,163,446 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

About 3M

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.