Lbp Am Sa Acquires 15,752 Shares of 3M (NYSE:MMM)

Lbp Am Sa raised its holdings in 3M (NYSE:MMM) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 160,024 shares of the conglomerate’s stock after purchasing an additional 15,752 shares during the quarter. Lbp Am Sa’s holdings in 3M were worth $20,657,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Impact Capital Partners LLC bought a new position in 3M in the 4th quarter valued at $275,000. LFA Lugano Financial Advisors SA raised its position in shares of 3M by 33.3% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 800 shares of the conglomerate’s stock worth $103,000 after acquiring an additional 200 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of 3M during the fourth quarter worth $921,000. Achmea Investment Management B.V. raised its position in shares of 3M by 59.0% during the fourth quarter. Achmea Investment Management B.V. now owns 97,603 shares of the conglomerate’s stock worth $12,600,000 after acquiring an additional 36,211 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of 3M by 4.8% during the fourth quarter. Avantax Advisory Services Inc. now owns 40,790 shares of the conglomerate’s stock worth $5,266,000 after acquiring an additional 1,885 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $149.43, for a total transaction of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares of the company’s stock, valued at approximately $750,736.32. This represents a 55.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $149.85, for a total value of $1,010,438.55. Following the transaction, the executive vice president now directly owns 4,902 shares of the company’s stock, valued at $734,564.70. This trade represents a 57.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the subject of a number of recent research reports. Barclays boosted their target price on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

3M Stock Down 2.8 %

NYSE:MMM opened at $145.97 on Friday. 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 company has a market cap of $79.25 billion, a PE ratio of 19.33, a PEG ratio of 3.30 and a beta of 0.97. 3M has a 52-week low of $85.48 and a 52-week high of $156.35. The stock has a 50-day simple moving average of $146.01 and a 200 day simple moving average of $136.69.

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

3M Increases Dividend

The business also recently declared 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. The ex-dividend date was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.00%. 3M’s dividend payout ratio is 38.68%.

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.