Lbp Am Sa Sells 6,038 Shares of 3M Company (NYSE:MMM)

LBP AM SA trimmed its position in shares of 3M Company (NYSE:MMM - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,986 shares of the conglomerate's stock after selling 6,038 shares during the period. LBP AM SA's holdings in 3M were worth $22,614,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in MMM. Norges Bank acquired a new stake in shares of 3M in the fourth quarter valued at $636,767,000. Invesco Ltd. raised its stake in shares of 3M by 51.6% in the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock valued at $576,845,000 after acquiring an additional 1,520,619 shares in the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of 3M in the fourth quarter valued at $175,110,000. Capital World Investors raised its stake in shares of 3M by 25.4% in the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock valued at $794,410,000 after acquiring an additional 1,248,093 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of 3M by 321.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,097,747 shares of the conglomerate's stock valued at $141,708,000 after acquiring an additional 837,226 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

MMM traded up $2.32 during trading hours on Wednesday, hitting $156.06. The company's stock had a trading volume of 2,807,830 shares, compared to its average volume of 3,807,826. 3M Company has a fifty-two week low of $98.26 and a fifty-two week high of $156.61. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 2.72. The firm has a market capitalization of $83.99 billion, a PE ratio of 19.70, a PEG ratio of 2.97 and a beta of 1.02. The company has a 50-day simple moving average of $147.22 and a 200 day simple moving average of $144.04.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a return on equity of 96.19% and a net margin of 17.79%. As a group, sell-side analysts expect that 3M Company will post 7.8 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd were given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.87%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Wells Fargo & Company raised their price target on 3M from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Citigroup raised their price target on 3M from $141.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, May 30th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Friday, June 27th. JPMorgan Chase & Co. raised their price objective on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Royal Bank Of Canada raised their price objective on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $156.33.

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 directly owned 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 31,372 shares in the company, 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. 0.48% of the stock is currently owned by company insiders.

About 3M

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.