Generali Investments Management Co LLC Has $1.03 Million Stock Holdings in 3M (NYSE:MMM)

Generali Investments Management Co LLC grew its stake in 3M (NYSE:MMM - Free Report) by 1,099.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,002 shares of the conglomerate's stock after buying an additional 6,418 shares during the period. Generali Investments Management Co LLC's holdings in 3M were worth $1,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 3M by 4.7% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,950 shares of the conglomerate's stock worth $727,000 after purchasing an additional 222 shares during the last quarter. Lmcg Investments LLC increased its stake in 3M by 15.6% during the first quarter. Lmcg Investments LLC now owns 2,597 shares of the conglomerate's stock valued at $381,000 after acquiring an additional 351 shares during the period. Beacon Financial Group bought a new position in 3M during the first quarter valued at about $220,000. Matrix Trust Co increased its stake in 3M by 26.8% during the first quarter. Matrix Trust Co now owns 936 shares of the conglomerate's stock valued at $137,000 after acquiring an additional 198 shares during the period. Finally, Leverty Financial Group LLC raised its position in 3M by 15.2% in the first quarter. Leverty Financial Group LLC now owns 19,758 shares of the conglomerate's stock worth $2,902,000 after purchasing an additional 2,609 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Price Performance

Shares of 3M stock traded down $1.26 during midday trading on Monday, reaching $144.24. The company had a trading volume of 3,401,853 shares, compared to its average volume of 3,861,927. 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 capitalization of $77.63 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 3.30 and a beta of 1.03. The stock has a fifty day simple moving average of $141.18 and a 200 day simple moving average of $141.44. 3M has a 1-year low of $98.26 and a 1-year high of $156.35.

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

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 2.02%. 3M's payout ratio is 36.87%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 24th. Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Royal Bank of Canada upped their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Finally, Citigroup upped their price objective on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. 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, 3M has an average rating of "Moderate Buy" and a consensus target price of $153.46.

Insider Buying and Selling at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's 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 of the company's stock, valued at $4,654,663.64. The trade was a 19.83% decrease in their ownership of the stock. 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.