550 Shares in 3M (NYSE:MMM) Acquired by Intact Investment Management Inc.

Intact Investment Management Inc. purchased a new position in shares of 3M (NYSE:MMM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 550 shares of the conglomerate’s stock, valued at approximately $71,000.

Other institutional investors and hedge funds have also modified their holdings of the company. D.A. Davidson & CO. increased its stake in 3M by 16.2% in the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after purchasing an additional 20,421 shares in the last quarter. Franklin Resources Inc. increased its stake in 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares in the last quarter. Meyer Handelman Co. increased its stake in 3M by 1.4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after purchasing an additional 2,678 shares in the last quarter. FMR LLC increased its stake in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in 3M in the fourth quarter valued at approximately $816,000. 65.25% of the stock is owned by institutional investors.

Insider Transactions at 3M

In other news, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 2,309 shares of the firm’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares of the company’s stock, valued at approximately $662,329.15. This represents a 34.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,639 shares of company stock worth $17,163,446. 0.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MMM has been the subject of several research reports. Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price objective on shares of 3M in a research report on Thursday, February 27th. Barclays increased their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America increased their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two investment 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.13.

3M Stock Performance

Shares of MMM stock opened at $150.58 on Friday. The stock has a market cap of $81.75 billion, a P/E ratio of 19.94, a P/E/G ratio of 3.30 and a beta of 0.97. 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 fifty day moving average price of $146.42 and a two-hundred day moving average price of $136.86. 3M has a one year low of $85.62 and a one year high of $156.35.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. As a group, equities analysts predict that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Friday, February 14th. This is a boost from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is currently 38.68%.

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.