3M Company (NYSE:MMM) Shares Purchased by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its stake in shares of 3M Company (NYSE:MMM - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 314,187 shares of the conglomerate's stock after acquiring an additional 16,346 shares during the period. Asset Management One Co. Ltd. owned 0.06% of 3M worth $46,142,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MMM. Proficio Capital Partners LLC bought a new position in shares of 3M in the fourth quarter worth approximately $26,000. REAP Financial Group LLC grew its holdings in 3M by 88.7% in the 4th quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock worth $26,000 after acquiring an additional 94 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M in the fourth quarter worth about $27,000. Pinney & Scofield Inc. purchased a new position in 3M during the 4th quarter valued at $28,000. Finally, Curat Global LLC bought a new position in 3M in the first quarter worth about $29,000. Institutional investors own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MMM. Barclays boosted their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada raised their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. 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. Bank of America upped their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Wednesday, June 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $155.83.

3M Trading Down 1.4%

MMM stock traded down $2.12 during midday trading on Wednesday, reaching $147.75. 2,378,019 shares of the company traded hands, compared to its average volume of 3,887,604. The business has a 50 day moving average of $143.64 and a 200-day moving average of $142.44. 3M Company has a 52-week low of $98.26 and a 52-week high of $156.35. The firm has a market capitalization of $79.52 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 3.06 and a beta of 1.03. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.25 and a current ratio of 1.66.

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 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 for the quarter, compared to analyst estimates of $5.78 billion. As a group, sell-side analysts expect that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.98%. 3M's dividend payout ratio is currently 36.87%.

Insiders Place Their Bets

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction dated 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 transaction, the executive vice president now owns 31,372 shares in the company, valued at $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

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.