Man Group plc Has $14.44 Million Stock Position in 3M (NYSE:MMM)

Man Group plc increased its position in shares of 3M (NYSE:MMM - Free Report) by 36.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,843 shares of the conglomerate's stock after buying an additional 29,845 shares during the quarter. Man Group plc's holdings in 3M were worth $14,438,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MMM. Assenagon Asset Management S.A. raised its stake in 3M by 78.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 40,029 shares of the conglomerate's stock valued at $5,167,000 after acquiring an additional 17,564 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of 3M by 164.4% in the fourth quarter. Park Avenue Securities LLC now owns 16,356 shares of the conglomerate's stock valued at $2,111,000 after purchasing an additional 10,169 shares during the period. Gateway Investment Advisers LLC raised its stake in shares of 3M by 51.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 9,779 shares of the conglomerate's stock worth $1,262,000 after purchasing an additional 3,309 shares during the last quarter. Carnegie Investment Counsel lifted its holdings in shares of 3M by 35.5% during the fourth quarter. Carnegie Investment Counsel now owns 3,333 shares of the conglomerate's stock worth $430,000 after purchasing an additional 873 shares during the period. Finally, Ritholtz Wealth Management grew its position in 3M by 27.0% in the 4th quarter. Ritholtz Wealth Management now owns 9,689 shares of the conglomerate's stock valued at $1,251,000 after buying an additional 2,061 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MMM. Royal Bank of Canada lifted their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Citigroup dropped their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Bank of America raised their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Saturday, May 10th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $152.08.

3M Trading Down 0.1%

Shares of MMM stock traded down $0.08 on Tuesday, reaching $154.06. 2,528,785 shares of the stock were exchanged, compared to its average volume of 3,993,873. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock has a market cap of $82.91 billion, a P/E ratio of 20.41, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The firm has a 50 day moving average of $141.68 and a two-hundred day moving average of $139.66. 3M has a 1-year low of $96.76 and a 1-year high of $156.35.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The company 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%. On average, research analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.90%. 3M's payout ratio is 36.87%.

Insider Transactions at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the company'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 transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

3M 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.