3M (NYSE:MMM) Shares Bought by Czech National Bank

Czech National Bank lifted its stake in 3M (NYSE:MMM - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,695 shares of the conglomerate's stock after purchasing an additional 6,623 shares during the quarter. Czech National Bank's holdings in 3M were worth $18,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in shares of 3M by 1.3% during the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock valued at $694,000 after purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust raised its position in 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after buying an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC lifted its stake in 3M by 2.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after acquiring an additional 71 shares during the period. Childress Capital Advisors LLC boosted its holdings in shares of 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after acquiring an additional 76 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its stake in shares of 3M by 5.3% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,519 shares of the conglomerate's stock worth $196,000 after acquiring an additional 77 shares during the period. Institutional investors own 65.25% of the company's stock.

3M Price Performance

MMM traded down $0.86 during trading on Wednesday, hitting $147.27. The company's stock had a trading volume of 1,330,636 shares, compared to its average volume of 3,871,562. 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 business's fifty day simple moving average is $141.20 and its 200 day simple moving average is $140.98. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 19.51, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a twelve month low of $97.68 and a twelve month high of $156.35.

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

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.98%. 3M's dividend payout ratio (DPR) is 36.87%.

Analyst Ratings Changes

Several brokerages recently issued reports on MMM. Bank of America raised their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Royal Bank of Canada raised their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Citigroup lifted their price objective on 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Finally, Barclays boosted their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, 3M has an average rating of "Moderate Buy" and a consensus price target of $153.46.

Insider Transactions at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction 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 transaction, the executive vice president now directly owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 6,127 shares of the company's stock, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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.