Motley Fool Asset Management LLC Acquires 2,910 Shares of 3M (NYSE:MMM)

Motley Fool Asset Management LLC lifted its holdings in 3M (NYSE:MMM) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,020 shares of the conglomerate’s stock after purchasing an additional 2,910 shares during the period. Motley Fool Asset Management LLC’s holdings in 3M were worth $3,230,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MMM. Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate’s stock worth $694,000 after buying an additional 67 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in 3M by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate’s stock worth $665,000 after purchasing an additional 70 shares during the period. Gilbert & Cook Inc. boosted its position in 3M by 1.5% during the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate’s stock worth $659,000 after purchasing an additional 73 shares during the period. Childress Capital Advisors LLC grew its holdings in 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate’s stock valued at $203,000 after purchasing an additional 76 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its position in shares of 3M by 5.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate’s stock valued at $196,000 after purchasing an additional 77 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Stock Up 0.1 %

Shares of MMM opened at $147.85 on Thursday. 3M has a 12 month low of $89.54 and a 12 month high of $156.35. The stock has a market cap of $79.74 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 3.30 and a beta of 0.97. The company has a 50-day moving average price of $149.71 and a two-hundred day moving average price of $138.56. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $2.42 EPS. Equities analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a dividend of $0.73 per share. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 1.97%. The ex-dividend date was Friday, February 14th. 3M’s dividend payout ratio (DPR) is currently 38.68%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 target price on shares of 3M in a research note on Thursday, February 27th. Citigroup lifted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and an average target price of $149.13.

Insider Buying and Selling at 3M

In other news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. This represents a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.