312,592 Shares in 3M (NYSE:MMM) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new position in shares of 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 312,592 shares of the conglomerate's stock, valued at approximately $40,353,000. 3M comprises 0.6% of Susquehanna Fundamental Investments LLC's holdings, making the stock its 12th biggest position. Susquehanna Fundamental Investments LLC owned 0.06% of 3M as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Life Planners purchased a new stake in 3M during the 4th quarter valued at about $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M during the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. purchased a new stake in 3M in the fourth quarter valued at approximately $27,000. Daymark Wealth Partners LLC increased its holdings in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. raised its position in 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after buying an additional 214 shares during the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 0.3 %

3M stock traded up $0.47 during trading on Wednesday, reaching $138.85. 3,061,081 shares of the company were exchanged, compared to its average volume of 2,488,867. The stock's 50 day simple moving average is $142.69 and its two-hundred day simple moving average is $138.29. The company has a market capitalization of $74.73 billion, a P/E ratio of 18.39, a PEG ratio of 3.30 and a beta of 1.01. 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 52-week low of $134.92 and a 52-week high of $139.65.

3M (NYSE:MMM - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $5.78 billion. On average, equities research analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were issued a dividend of $0.73 per share. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is currently 36.87%.

Analysts Set New Price Targets

Several brokerages recently issued reports on MMM. 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. JPMorgan Chase & Co. reduced their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada upped their target price on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Citigroup reduced their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Bank of America boosted their target price on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, 3M presently has a consensus rating of "Moderate Buy" and a consensus price target of $147.00.

Insider Activity

In other news, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the completion of the transaction, the executive vice president now directly owns 194 shares in the company, valued at approximately $29,918.68. This represents a 90.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company's stock.

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.