182,495 Shares in 3M (NYSE:MMM) Bought by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ bought a new stake in 3M (NYSE:MMM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 182,495 shares of the conglomerate's stock, valued at approximately $23,558,000.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners bought a new stake in shares of 3M in the fourth quarter valued at about $25,000. REAP Financial Group LLC boosted its position in shares of 3M by 88.7% in the fourth quarter. REAP Financial Group LLC now owns 200 shares of the conglomerate's stock valued at $26,000 after acquiring an additional 94 shares during the period. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M in the fourth quarter valued at about $27,000. Pinney & Scofield Inc. bought a new stake in shares of 3M in the fourth quarter valued at about $28,000. Finally, Meeder Asset Management Inc. boosted its position in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. Institutional investors own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Citigroup dropped their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Royal Bank of Canada boosted their price target 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 boosted their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their price target on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.08.

3M Price Performance

NYSE MMM traded up $1.02 during trading on Thursday, hitting $149.68. 2,621,422 shares of the company's stock were exchanged, compared to its average volume of 3,961,563. 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 cap of $80.55 billion, a PE ratio of 19.83, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a fifty-two week low of $96.89 and a fifty-two week high of $156.35. The stock's 50 day moving average price is $141.44 and its two-hundred day moving average price is $140.56.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (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 company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. Research analysts expect that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders 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 1.95%. 3M's dividend payout ratio is currently 36.87%.

Insider Activity

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by 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.