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

IFM Investors Pty Ltd raised its stake in 3M Company (NYSE:MMM - Free Report) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,557 shares of the conglomerate's stock after buying 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 large investors have also recently added to or reduced their stakes in the company. Avantax Planning Partners Inc. increased its stake in shares of 3M by 4.5% during the 1st quarter. Avantax Planning Partners Inc. now owns 9,020 shares of the conglomerate's stock worth $1,325,000 after purchasing an additional 391 shares during the last quarter. Silver Oak Securities Incorporated grew its stake in 3M by 30.5% in the 1st quarter. Silver Oak Securities Incorporated now owns 3,951 shares of the conglomerate's stock valued at $572,000 after buying an additional 923 shares during the last quarter. MBA Advisors LLC grew its stake in 3M by 3.7% in the 1st quarter. MBA Advisors LLC now owns 2,700 shares of the conglomerate's stock valued at $396,000 after buying an additional 97 shares during the last quarter. Conning Inc. boosted its holdings in 3M by 52.7% in the 1st quarter. Conning Inc. now owns 5,412 shares of the conglomerate's stock valued at $795,000 after purchasing an additional 1,868 shares during the period. Finally, Aurora Private Wealth Inc. bought a new stake in 3M in the 1st quarter valued at $219,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Analysts Set New Price Targets

MMM has been the subject of a number of research reports. Barclays increased their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price target on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Citigroup raised their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada raised their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

3M Price Performance

Shares of 3M stock traded up $1.72 during mid-day trading on Tuesday, reaching $153.56. 2,407,087 shares of the stock were exchanged, compared to its average volume of 3,805,207. The company has a market cap of $82.64 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The firm has a 50-day simple moving average of $146.91 and a 200 day simple moving average of $143.97. 3M Company has a fifty-two week low of $98.26 and a fifty-two week 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, topping the consensus estimate of $1.77 by $0.11. 3M had a net margin of 17.79% and a return on equity of 96.19%. The firm had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. On average, sell-side analysts predict that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.90%. 3M's payout ratio is 36.87%.

Insider Buying and Selling at 3M

In related news, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction on 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 completion of the sale, the executive vice president owned 31,372 shares in the company, valued at $4,654,663.64. This represents a 19.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction on Thursday, May 15th. The shares were 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 owned 6,127 shares of the company's stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

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.