Worldquant Millennium Advisors LLC Purchases Shares of 11,665 3M (NYSE:MMM)

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

A number of other large investors also recently modified their holdings of MMM. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock valued at $694,000 after purchasing an additional 67 shares during the period. Parkside Financial Bank & Trust boosted its position in 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock valued at $665,000 after buying an additional 70 shares in the last quarter. LaSalle St. Investment Advisors LLC boosted its position in 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after buying an additional 71 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after purchasing an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC raised its stake in 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after buying an additional 76 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at 3M

In related news, EVP John Patrick Banovetz sold 7,759 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 31,372 shares in the company, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 value of $1,179,493.30. Following the completion of the sale, the executive vice president now directly owns 6,127 shares in the company, valued at $913,045.54. This represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MMM. JPMorgan Chase & Co. boosted their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Citigroup reduced their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday. Finally, Royal Bank of Canada lifted their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $152.08.

3M Stock Down 0.3%

Shares of MMM stock traded down $0.46 during mid-day trading on Wednesday, hitting $149.03. 686,690 shares of the stock traded hands, compared to its average volume of 3,965,694. The stock has a market cap of $80.20 billion, a P/E ratio of 19.74, a P/E/G ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock's fifty day moving average is $141.54 and its two-hundred day moving average is $140.39. 3M has a 52-week low of $96.76 and a 52-week 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 (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities analysts predict 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. Stockholders 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 dividend yield of 1.96%. 3M's dividend payout ratio (DPR) is presently 36.87%.

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.