3M (NYSE:MMM) Shares Purchased by Mariner LLC

Mariner LLC grew its holdings in 3M (NYSE:MMM - Free Report) by 0.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 222,179 shares of the conglomerate's stock after buying an additional 2,017 shares during the period. Mariner LLC's holdings in 3M were worth $28,681,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MMM. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in 3M by 1.3% during 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 purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust increased its position in 3M by 1.4% during the 4th 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. lifted its holdings in shares of 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock valued at $659,000 after buying an additional 73 shares during the period. Childress Capital Advisors LLC boosted its stake in shares of 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after buying an additional 76 shares in the last quarter. Finally, Capital Advisors Ltd. LLC grew its holdings in 3M by 5.3% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate's stock worth $196,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Insiders Place Their Bets

In other news, EVP Victoria Clarke sold 1,750 shares of the company's 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 completion of the sale, the executive vice president now directly owns 194 shares in the company, valued at $29,918.68. This represents a 90.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the completion of the transaction, the insider now directly owns 5,024 shares in the company, valued at $750,736.32. This trade represents a 55.70 % 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 valued at $17,163,446 over the last quarter. Company insiders own 0.48% of the company's stock.

3M Trading Down 0.2 %

MMM traded down $0.30 during trading on Friday, hitting $130.16. The company's stock had a trading volume of 4,951,917 shares, compared to its average volume of 4,151,045. 3M has a twelve month low of $90.65 and a twelve month high of $156.35. The stock has a market cap of $70.20 billion, a PE ratio of 17.24, a PEG ratio of 3.30 and a beta of 1.01. The firm's 50 day moving average price is $144.53 and its 200-day moving average price is $138.22. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion for 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%. The firm's revenue for the quarter was down 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.42 earnings per share. On average, analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.24%. This is an increase from 3M's previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Friday, February 14th. 3M's payout ratio is presently 38.68%.

Analyst Ratings Changes

MMM has been the topic of a number of research analyst reports. Royal Bank of Canada reissued an "underperform" rating and set a $96.00 price objective on shares of 3M in a report on Thursday, February 27th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Bank of America upped their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Barclays cut their price target on 3M from $165.00 to $160.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $146.47.

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.