5,554 Shares in 3M (NYSE:MMM) Acquired by Shell Asset Management Co.

Shell Asset Management Co. acquired a new position in 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,554 shares of the conglomerate's stock, valued at approximately $717,000.

Other large investors also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in shares of 3M in the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. purchased a new position in 3M during the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. increased its stake in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in shares of 3M by 81.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock worth $47,000 after acquiring an additional 163 shares in the last quarter. Finally, Greenline Partners LLC bought a new position in shares of 3M during the 4th quarter valued at approximately $50,000. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 0.2%

Shares of 3M stock traded up $0.29 on Thursday, hitting $149.69. 2,862,794 shares of the company traded hands, compared to its average volume of 3,981,633. 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 $80.56 billion, a PE ratio of 19.83, a PEG ratio of 3.30 and a beta of 1.02. The stock's 50 day moving average price is $141.82 and its 200-day moving average price is $139.83. 3M has a 52 week low of $96.76 and a 52 week high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its earnings results 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 return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. Equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 yield of 1.95%. 3M's payout ratio is 36.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MMM shares. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. 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 report on Wednesday, April 23rd. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $152.08.

Insider Buying and Selling at 3M

In related news, EVP Zoe L. Dickson sold 7,915 shares of the business'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 completion of the transaction, the executive vice president now owns 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.34% of the company's stock.

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.