Bessemer Group Inc. Has $1.83 Million Stock Holdings in 3M Company (NYSE:MMM)

Bessemer Group Inc. lessened its position in shares of 3M Company (NYSE:MMM - Free Report) by 51.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,445 shares of the conglomerate's stock after selling 13,392 shares during the quarter. Bessemer Group Inc.'s holdings in 3M were worth $1,827,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wayfinding Financial LLC acquired a new position in 3M in the fourth quarter valued at about $851,000. Ensign Peak Advisors Inc lifted its stake in 3M by 29.2% in the fourth quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock valued at $82,921,000 after buying an additional 145,146 shares during the period. Asahi Life Asset Management CO. LTD. lifted its stake in 3M by 34.0% in the fourth quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate's stock valued at $1,616,000 after buying an additional 3,173 shares during the period. Allstate Corp acquired a new position in 3M in the fourth quarter valued at about $2,101,000. Finally, Teacher Retirement System of Texas lifted its stake in 3M by 59.8% in the fourth quarter. Teacher Retirement System of Texas now owns 747,954 shares of the conglomerate's stock valued at $96,553,000 after buying an additional 280,015 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Trading Up 0.9%

NYSE MMM opened at $152.19 on Friday. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25. The firm has a market cap of $81.90 billion, a P/E ratio of 19.22, a P/E/G ratio of 3.15 and a beta of 1.03. 3M Company has a one year low of $98.26 and a one year high of $156.35. The stock's 50-day moving average is $144.83 and its 200-day moving average is $142.85.

3M (NYSE:MMM - Get Free Report) last posted 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. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. Sell-side analysts anticipate that 3M Company will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.92%. 3M's payout ratio is presently 36.87%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays increased their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada increased their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, Citigroup raised their price target on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average target price of $155.83.

Insider Buying and Selling

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was 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 directly owns 6,127 shares in the company, valued at $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This represents a 19.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.

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