2,127 Shares in 3M (NYSE:MMM) Bought by Impact Capital Partners LLC

Impact Capital Partners LLC bought a new position in shares of 3M (NYSE:MMM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,127 shares of the conglomerate’s stock, valued at approximately $275,000.

A number of other large investors have also bought and sold shares of the stock. State Street Corp grew its holdings in 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after purchasing an additional 302,900 shares during the period. FMR LLC raised its position in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the period. Bank of New York Mellon Corp raised its position in shares of 3M by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate’s stock valued at $734,456,000 after purchasing an additional 479,621 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in 3M by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,577,045 shares of the conglomerate’s stock valued at $461,761,000 after acquiring an additional 17,228 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Up 3.1 %

Shares of 3M stock opened at $150.58 on Friday. 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 company has a 50-day moving average of $146.42 and a 200 day moving average of $136.82. The firm has a market cap of $81.75 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 3.30 and a beta of 0.97. 3M has a 1 year low of $85.62 and a 1 year high of $156.35.

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

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.94%. This is an increase from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. 3M’s dividend payout ratio is 38.68%.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of research reports. Barclays upped their price objective on shares of 3M from $161.00 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 Friday, March 7th. Royal Bank of Canada reiterated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Thursday, February 27th. Citigroup upped their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Finally, Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.13.

Insider Activity at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the firm’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the sale, the insider now owns 5,153 shares of the company’s stock, valued at $774,238.25. This trade represents a 24.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.43, for a total transaction of $944,098.74. Following the sale, the insider now directly owns 5,024 shares in the company, valued at approximately $750,736.32. The trade was a 55.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,639 shares of company stock valued at $17,163,446. 0.38% of the stock is owned by insiders.

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.