Sumitomo Mitsui DS Asset Management Company Ltd Buys 16,134 Shares of 3M Company (NYSE:MMM)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of 3M Company (NYSE:MMM - Free Report) by 5.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 290,841 shares of the conglomerate's stock after purchasing an additional 16,134 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.05% of 3M worth $42,713,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. RKL Wealth Management LLC acquired a new position in shares of 3M in the 1st quarter valued at $335,000. Mather Group LLC. grew its stake in 3M by 930.2% in the first quarter. Mather Group LLC. now owns 12,743 shares of the conglomerate's stock valued at $1,871,000 after acquiring an additional 11,506 shares during the period. Alta Advisers Ltd increased its holdings in shares of 3M by 43.9% in the first quarter. Alta Advisers Ltd now owns 2,622 shares of the conglomerate's stock worth $385,000 after acquiring an additional 800 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of 3M by 5.2% during the first quarter. Deseret Mutual Benefit Administrators now owns 9,967 shares of the conglomerate's stock worth $1,464,000 after purchasing an additional 492 shares during the period. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of 3M during the 1st quarter valued at about $52,000. Institutional investors own 65.25% of the company's stock.

Insider Transactions at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction that occurred 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 owned 6,127 shares of the company's stock, valued at $913,045.54. The trade was a 56.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $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. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on 3M from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Tuesday. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Friday, June 27th. Citigroup raised their price objective on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their target price on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, Barclays increased their target price on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $155.83.

3M Stock Down 1.1%

Shares of NYSE:MMM traded down $1.75 during midday trading on Friday, reaching $152.23. The company had a trading volume of 3,182,854 shares, compared to its average volume of 3,804,709. 3M Company has a 1-year low of $98.26 and a 1-year high of $156.35. The stock has a market cap of $81.92 billion, a PE ratio of 19.22, a P/E/G ratio of 2.99 and a beta of 1.02. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The business's 50 day moving average price is $146.63 and its 200 day moving average price is $143.57.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results 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. 3M had a return on equity of 96.19% and a net margin of 17.79%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. Research analysts forecast that 3M Company will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Friday, May 23rd were paid a $0.73 dividend. This represents a $2.92 annualized dividend and a yield of 1.92%. 3M's dividend payout ratio (DPR) is currently 36.87%.

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.