Signaturefd LLC Purchases 2,386 Shares of 3M (NYSE:MMM)

Signaturefd LLC increased its position in shares of 3M (NYSE:MMM) by 36.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,913 shares of the conglomerate’s stock after acquiring an additional 2,386 shares during the period. Signaturefd LLC’s holdings in 3M were worth $974,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of 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 buying an additional 3,508,334 shares during the period. International Assets Investment Management LLC increased its position in 3M by 8,766.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock valued at $118,168,000 after acquiring an additional 1,068,748 shares during the period. Van ECK Associates Corp raised its stake in shares of 3M by 20.8% during the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock valued at $275,630,000 after acquiring an additional 506,654 shares during the last quarter. FMR LLC lifted its holdings in shares of 3M by 29.8% during the third quarter. FMR LLC now owns 1,908,914 shares of the conglomerate’s stock worth $178,713,000 after purchasing an additional 438,424 shares during the period. Finally, Nuance Investments LLC grew its stake in shares of 3M by 10.1% in the third quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock worth $380,337,000 after purchasing an additional 371,935 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MMM. Wells Fargo & Company lowered their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Citigroup raised their price objective on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Royal Bank of Canada reduced their target price on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a report on Tuesday, April 2nd. Barclays lowered their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a report on Tuesday, April 2nd. Finally, Mizuho reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.00.

Insider Transactions at 3M

In other 3M 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 owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by insiders.

3M Stock Up 0.4 %

Shares of NYSE MMM opened at $92.61 on Tuesday. 3M has a 12-month low of $71.12 and a 12-month high of $95.67. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The company’s fifty day simple moving average is $95.72 and its 200 day simple moving average is $97.40.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company had revenue of $8.01 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the business posted $2.28 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. This is an increase from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.52%. 3M’s payout ratio is currently -47.82%.

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.