Dimensional Fund Advisors LP Has $369.53 Million Holdings in 3M Company $MMM

Key Points

• Dimensional Fund Advisors LP increased its stake in 3M Company by 18.0% during the first quarter, owning approximately 0.47% of the company worth $369.5 million.
• Several hedge funds have also raised their stakes in 3M, with institutional investors now owning 65.25% of the company's stock.
• 3M reported better-than-expected earnings with an EPS of $2.16, and announced a quarterly dividend of $0.73 per share, effective September 12th.

Dimensional Fund Advisors LP raised its stake in 3M Company (NYSE:MMM - Free Report) by 18.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,516,729 shares of the conglomerate's stock after buying an additional 383,539 shares during the quarter. Dimensional Fund Advisors LP owned about 0.47% of 3M worth $369,530,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Ensign Peak Advisors Inc lifted its stake in 3M by 29.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock valued at $82,921,000 after buying an additional 145,146 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in shares of 3M in the first quarter worth $2,506,000. Synergy Asset Management LLC lifted its position in shares of 3M by 122.7% in the first quarter. Synergy Asset Management LLC now owns 4,512 shares of the conglomerate's stock worth $663,000 after purchasing an additional 2,486 shares in the last quarter. Northstar Group Inc. bought a new stake in shares of 3M in the first quarter worth $262,000. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of 3M in the first quarter worth $786,000. Institutional investors own 65.25% of the company's stock.

3M Stock Performance

NYSE MMM traded up $0.5880 on Wednesday, hitting $154.9280. 2,049,222 shares of the stock were exchanged, compared to its average volume of 3,844,334. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.72 and a quick ratio of 1.20. The business's fifty day moving average is $151.33 and its 200 day moving average is $147.17. 3M Company has a 52 week low of $121.98 and a 52 week high of $164.15. The company has a market capitalization of $82.52 billion, a PE ratio of 21.55, a P/E/G ratio of 2.96 and a beta of 1.05.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The conglomerate reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.15. The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $6.09 billion. 3M had a net margin of 16.01% and a return on equity of 96.48%. The company's revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 earnings per share. Research analysts anticipate that 3M Company will post 7.8 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 25th will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.9%. 3M's payout ratio is presently 40.61%.

Insider Activity

In other news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total value of $1,151,202.83. Following the transaction, the executive vice president directly owned 31,372 shares of the company's stock, valued at $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Theresa E. Reinseth sold 3,477 shares of the stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $150.63, for a total transaction of $523,740.51. Following the completion of the transaction, the chief accounting officer directly owned 2,561 shares in the company, valued at $385,763.43. The trade was a 57.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,401 shares of company stock valued at $2,600,803 over the last ninety days. 0.48% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Citigroup boosted their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Royal Bank Of Canada boosted their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Thursday, August 14th. Barclays set a $170.00 price target on 3M in a research note on Friday, July 18th. Finally, Wells Fargo & Company restated an "overweight" rating on shares of 3M in a research note on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $158.10.

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.