Dimensional Fund Advisors LP Has $275.38 Million Stock Holdings in 3M (NYSE:MMM)

Dimensional Fund Advisors LP lifted its stake in shares of 3M (NYSE:MMM - Free Report) by 34.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,133,190 shares of the conglomerate's stock after purchasing an additional 544,380 shares during the quarter. Dimensional Fund Advisors LP owned about 0.39% of 3M worth $275,375,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MMM. Wayfinding Financial LLC bought a new stake in 3M in the fourth quarter worth about $851,000. Franklin Resources Inc. raised its holdings in shares of 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock worth $114,770,000 after purchasing an additional 178,450 shares in the last quarter. Meyer Handelman Co. raised its holdings in shares of 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock worth $25,511,000 after purchasing an additional 2,678 shares in the last quarter. USA Financial Formulas acquired a new stake in 3M during the fourth quarter valued at approximately $816,000. Finally, Braun Stacey Associates Inc. boosted its holdings in 3M by 18.4% during the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after buying an additional 22,203 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Price Performance

Shares of MMM traded down $0.65 during mid-day trading on Friday, reaching $138.23. The company had a trading volume of 796,695 shares, compared to its average volume of 4,371,029. 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 market capitalization of $74.55 billion, a P/E ratio of 18.31, a P/E/G ratio of 3.30 and a beta of 1.01. 3M has a twelve month low of $91.08 and a twelve month high of $156.35. The company's 50-day moving average is $143.38 and its 200-day moving average is $138.19.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. On average, equities analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently declared 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 is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, February 14th. 3M's dividend payout ratio is 38.68%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MMM. JPMorgan Chase & Co. cut their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Citigroup decreased their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Barclays upped their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $147.00.

Insider Buying and Selling at 3M

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the company's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares in the company, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,736 shares of company stock worth $9,081,260. Insiders own 0.34% of the company's stock.

3M Company 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.