Quantinno Capital Management LP Has $6.51 Million Stock Holdings in 3M (NYSE:MMM)

Quantinno Capital Management LP increased its holdings in 3M (NYSE:MMM - Free Report) by 45.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,412 shares of the conglomerate's stock after purchasing an additional 15,687 shares during the quarter. Quantinno Capital Management LP's holdings in 3M were worth $6,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the company. Paradoxiom Capital L.P. purchased a new position in 3M in the 4th quarter worth approximately $7,956,000. Mufg Securities Americas Inc. bought a new position in 3M in the 4th quarter worth $1,038,000. Parsifal Capital Management LP lifted its stake in 3M by 1.2% in the 4th quarter. Parsifal Capital Management LP now owns 829,886 shares of the conglomerate's stock worth $107,130,000 after purchasing an additional 9,792 shares in the last quarter. Man Group plc lifted its stake in 3M by 36.4% in the 4th quarter. Man Group plc now owns 111,843 shares of the conglomerate's stock worth $14,438,000 after purchasing an additional 29,845 shares in the last quarter. Finally, Newbrook Capital Advisors LP purchased a new stake in shares of 3M during the 4th quarter valued at about $23,642,000. 65.25% of the stock is owned by institutional investors.

3M Stock Down 0.1%

MMM traded down $0.08 during trading on Tuesday, hitting $154.06. The company had a trading volume of 2,528,785 shares, compared to its average volume of 3,993,873. The company has a market cap of $82.91 billion, a PE ratio of 20.41, a P/E/G ratio of 3.30 and a beta of 1.02. The business has a 50-day moving average of $141.68 and a 200-day moving average of $139.66. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 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 earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. As a group, analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Dividend Announcement

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

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. Barclays raised their target price on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Citigroup cut their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank of Canada boosted their target price on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.08.

Insider Activity at 3M

In other 3M 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 sale, the executive vice president now directly owns 6,127 shares of the company's stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.