Toronto Dominion Bank Acquires 1,961 Shares of 3M (NYSE:MMM)

Toronto Dominion Bank lifted its position in shares of 3M (NYSE:MMM - Free Report) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,937 shares of the conglomerate's stock after acquiring an additional 1,961 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of 3M worth $35,749,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of 3M during the fourth quarter worth about $25,000. Hazlett Burt & Watson Inc. bought a new stake in 3M during the 4th quarter worth approximately $27,000. Pinney & Scofield Inc. bought a new stake in 3M during the 4th quarter worth approximately $28,000. Meeder Asset Management Inc. increased its position in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. Finally, Catalyst Capital Advisors LLC raised its stake in shares of 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after acquiring an additional 163 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MMM shares. Citigroup reduced their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Barclays upped their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada increased their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped 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. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.08.

Insider Activity at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 6,127 shares of the company's stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

3M Stock Up 0.7%

NYSE MMM traded up $1.02 on Thursday, hitting $149.68. 2,621,422 shares of the company were exchanged, compared to its average volume of 3,965,009. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a market cap of $80.55 billion, a PE ratio of 19.83, a PEG ratio of 3.30 and a beta of 1.02. The stock has a fifty day moving average of $141.51 and a 200-day moving average of $140.45. 3M has a 12 month low of $96.76 and a 12 month high of $156.35.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. As a group, analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.95%. 3M's dividend payout ratio is currently 36.87%.

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.