IFM Investors Pty Ltd Has $15.52 Million Holdings in 3M Company (NYSE:MMM)

IFM Investors Pty Ltd lifted its stake in 3M Company (NYSE:MMM - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 113,557 shares of the conglomerate's stock after purchasing an additional 9,731 shares during the quarter. IFM Investors Pty Ltd's holdings in 3M were worth $15,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of 3M by 26.6% during the fourth quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock worth $1,149,000 after buying an additional 1,872 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of 3M during the fourth quarter worth $26,000. Steward Partners Investment Advisory LLC boosted its position in shares of 3M by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,020 shares of the conglomerate's stock worth $5,295,000 after buying an additional 452 shares during the period. Victory Capital Management Inc. boosted its position in shares of 3M by 51.2% during the fourth quarter. Victory Capital Management Inc. now owns 609,429 shares of the conglomerate's stock worth $78,671,000 after buying an additional 206,398 shares during the period. Finally, Assetmark Inc. boosted its position in shares of 3M by 80.2% during the fourth quarter. Assetmark Inc. now owns 1,173 shares of the conglomerate's stock worth $151,000 after buying an additional 522 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Transactions at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president owned 6,127 shares in the company, valued at approximately $913,045.54. This trade represents a 56.37% 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, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total value of $1,151,202.83. Following the sale, the executive vice president directly owned 31,372 shares in the company, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.48% of the company's stock.

3M Trading Down 0.7%

Shares of MMM stock traded down $1.00 on Monday, reaching $151.94. 2,338,701 shares of the stock were exchanged, compared to its average volume of 3,802,147. The stock has a market cap of $81.77 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The firm has a 50 day moving average of $146.63 and a two-hundred day moving average of $143.82. 3M Company has a 1-year low of $98.26 and a 1-year high of $156.35.

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

3M Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MMM shares. Wells Fargo & Company lifted their target price on 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. lifted their target price on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Barclays lifted their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Finally, Citigroup raised their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, 3M presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

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.