Wellington Management Group LLP Has $79.32 Million Stock Holdings in 3M (NYSE:MMM)

Wellington Management Group LLP raised its holdings in shares of 3M (NYSE:MMM - Free Report) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 614,438 shares of the conglomerate's stock after buying an additional 2,681 shares during the quarter. Wellington Management Group LLP owned about 0.11% of 3M worth $79,318,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Financial Life Planners acquired a new position in shares of 3M during the fourth quarter worth approximately $25,000. Proficio Capital Partners LLC bought a new stake in shares of 3M during the fourth quarter valued at approximately $26,000. REAP Financial Group LLC increased its position in shares of 3M by 88.7% during the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after purchasing an additional 94 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M during the fourth quarter valued at approximately $27,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of 3M during the fourth quarter valued at approximately $28,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

Shares of MMM stock traded down $1.43 during trading hours on Friday, hitting $148.20. 5,339,771 shares of the company's stock were exchanged, compared to its average volume of 3,964,842. The stock's 50-day moving average is $141.33 and its 200-day moving average is $140.69. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a market cap of $79.76 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 3M has a 52 week low of $97.42 and a 52 week high of $156.35.

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

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.97%. 3M's payout ratio is presently 36.87%.

Insider Transactions at 3M

In other news, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction on 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 transaction, the executive vice president now owns 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 legal filing with the SEC, which is available through 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 value of $1,179,493.30. Following the transaction, the executive vice president now directly owns 6,127 shares in the company, valued at $913,045.54. This trade represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MMM. Citigroup boosted their price objective on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 24th. Royal Bank of Canada boosted their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Bank of America boosted their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $153.46.

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.