Mackenzie Financial Corp Has $9.70 Million Holdings in 3M (NYSE:MMM)

Mackenzie Financial Corp lifted its holdings in 3M (NYSE:MMM - Free Report) by 63.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 75,100 shares of the conglomerate's stock after purchasing an additional 29,134 shares during the period. Mackenzie Financial Corp's holdings in 3M were worth $9,695,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of 3M during the 4th quarter worth approximately $636,767,000. Invesco Ltd. boosted its stake in 3M by 51.6% during the fourth quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock worth $576,845,000 after buying an additional 1,520,619 shares in the last quarter. D1 Capital Partners L.P. bought a new position in shares of 3M during the 4th quarter worth about $175,110,000. Capital World Investors lifted its stake in 3M by 25.4% during the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after purchasing an additional 1,248,093 shares during the period. Finally, Amundi increased its position in shares of 3M by 55.7% during the 4th quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock worth $337,815,000 after purchasing an additional 898,244 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Insider Activity at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the business's 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction on 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. The trade was a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

3M Stock Up 0.7%

NYSE MMM traded up $1.02 on Thursday, reaching $149.68. The company had a trading volume of 2,621,422 shares, compared to its average volume of 3,961,563. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market capitalization of $80.55 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company's fifty day moving average is $141.51 and its 200-day moving average is $140.45. 3M has a 1-year low of $96.89 and a 1-year high of $156.35.

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, topping analysts' consensus estimates 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 the consensus estimate of $5.78 billion. On average, research analysts forecast that 3M will post 7.8 earnings per share 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 given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.95%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Bank of America lifted their price objective on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 24th. Royal Bank of Canada lifted their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Barclays lifted their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and a consensus price target of $152.08.

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.