11,665 Shares in 3M (NYSE:MMM) Acquired by Worldquant Millennium Advisors LLC

Worldquant Millennium Advisors LLC acquired a new stake in shares of 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,665 shares of the conglomerate's stock, valued at approximately $1,506,000.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of 3M by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock valued at $1,493,655,000 after acquiring an additional 280,048 shares during the period. Northern Trust Corp boosted its position in 3M by 12.6% during the fourth quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock valued at $871,738,000 after purchasing an additional 755,155 shares in the last quarter. Capital World Investors raised its holdings in 3M by 25.4% in 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 in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 3M by 9.2% during the fourth quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after buying an additional 479,621 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of 3M during the fourth quarter valued at about $636,767,000. Institutional investors own 65.25% of the company's stock.

3M Stock Performance

Shares of 3M stock traded up $1.78 during trading on Tuesday, hitting $149.40. 1,652,396 shares of the company's stock were exchanged, compared to its average volume of 4,079,269. The stock has a market capitalization of $80.40 billion, a price-to-earnings ratio of 19.79, a PEG ratio of 3.30 and a beta of 1.02. The business has a 50-day simple moving average of $141.58 and a 200-day simple moving average of $140.33. 3M has a 52-week low of $96.76 and a 52-week high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

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, beating analysts' consensus estimates 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 100.77% and a net margin of 15.71%. On average, research analysts forecast that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.95%. 3M's payout ratio is presently 36.87%.

Insiders Place Their Bets

In other news, EVP John Patrick Banovetz sold 7,759 shares of 3M 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 sale, the executive vice president now owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The sale 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 company'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 now owns 6,127 shares of the company's stock, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on MMM. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Saturday. Citigroup reduced their price target on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Barclays increased their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Royal Bank of Canada upped their target price on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Finally, Bank of America increased 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $152.08.

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.