3M Company (NYSE:MMM) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of 3M Company (NYSE:MMM - Free Report) by 0.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,689,348 shares of the conglomerate's stock after purchasing an additional 9,064 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.31% of 3M worth $248,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in shares of 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after acquiring an additional 70 shares during the period. LaSalle St. Investment Advisors LLC lifted its stake in shares of 3M by 2.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after acquiring an additional 71 shares during the period. TCV Trust & Wealth Management Inc. lifted its stake in shares of 3M by 1.1% in the 1st quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock worth $954,000 after acquiring an additional 73 shares during the period. NBT Bank N A NY lifted its stake in shares of 3M by 0.8% in the 1st quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock worth $1,431,000 after acquiring an additional 79 shares during the period. Finally, Cherry Creek Investment Advisors Inc. lifted its stake in shares of 3M by 0.8% in the 1st quarter. Cherry Creek Investment Advisors Inc. now owns 10,775 shares of the conglomerate's stock worth $1,582,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MMM shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Friday. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Royal Bank Of Canada upped their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Barclays increased their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of "Moderate Buy" and an average target price of $155.83.

Insider Buying and Selling at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the transaction, the executive vice president now owns 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

3M Stock Up 0.9%

Shares of NYSE:MMM opened at $152.19 on Friday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66. The company has a market cap of $81.90 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 3.13 and a beta of 1.03. 3M Company has a 52 week low of $98.26 and a 52 week high of $156.35. The firm has a 50 day simple moving average of $144.83 and a 200 day simple moving average of $142.76.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. As a group, research analysts expect that 3M Company will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.92%. 3M's dividend payout ratio is presently 36.87%.

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.

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