7,962 Shares in 3M Company (NYSE:MMM) Bought by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. acquired a new stake in shares of 3M Company (NYSE:MMM - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,962 shares of the conglomerate's stock, valued at approximately $1,102,000.

A number of other large investors have also modified their holdings of the company. LaSalle St. Investment Advisors LLC grew its holdings in 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after purchasing an additional 71 shares during the period. TCV Trust & Wealth Management Inc. lifted its position in shares of 3M by 1.1% in the first quarter. TCV Trust & Wealth Management Inc. now owns 6,497 shares of the conglomerate's stock valued at $954,000 after buying an additional 73 shares during the last quarter. Cahaba Wealth Management Inc. lifted its position in shares of 3M by 1.4% in the first quarter. Cahaba Wealth Management Inc. now owns 5,580 shares of the conglomerate's stock valued at $819,000 after buying an additional 75 shares during the last quarter. NBT Bank N A NY boosted its stake in shares of 3M by 0.8% during the 1st quarter. NBT Bank N A NY now owns 9,744 shares of the conglomerate's stock worth $1,431,000 after acquiring an additional 79 shares during the period. Finally, Rehmann Capital Advisory Group increased its holdings in shares of 3M by 2.6% during the 1st quarter. Rehmann Capital Advisory Group now owns 3,272 shares of the conglomerate's stock worth $481,000 after acquiring an additional 82 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

3M stock traded up $0.92 during midday trading on Wednesday, hitting $157.51. The company's stock had a trading volume of 3,194,531 shares, compared to its average volume of 3,796,828. The company has a 50-day moving average price of $149.32 and a two-hundred day moving average price of $145.05. 3M Company has a 1-year low of $101.77 and a 1-year high of $159.47. The company has a market cap of $84.77 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 3.05 and a beta of 1.02. The company has a debt-to-equity ratio of 2.72, a current ratio of 1.66 and a quick ratio of 1.25.

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

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.85%. 3M's payout ratio is currently 36.87%.

Insiders Place Their Bets

In other 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 directly owned 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 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 company insiders.

Analyst Upgrades and Downgrades

MMM has been the subject of several research reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday. Wells Fargo & Company increased their price objective on shares of 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Citigroup lifted their target price on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their price target 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. Finally, Royal Bank Of Canada raised their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $156.33.

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.