Profund Advisors LLC lifted its stake in shares of 3M Co (NYSE:MMM) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,701 shares of the conglomerate’s stock after purchasing an additional 1,437 shares during the quarter. Profund Advisors LLC’s holdings in 3M were worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Braun Bostich & Associates Inc. bought a new stake in 3M during the 4th quarter worth approximately $30,000. Kessler Investment Group LLC bought a new stake in shares of 3M in the 4th quarter valued at $35,000. IndexIQ Advisors LLC bought a new stake in shares of 3M in the 4th quarter valued at $35,000. Prestige Wealth Management Group LLC boosted its stake in shares of 3M by 73.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. Finally, Quantum Capital Management bought a new stake in shares of 3M in the 3rd quarter valued at $45,000. 68.19% of the stock is currently owned by institutional investors.
Shares of 3M stock traded up $4.64 during trading on Thursday, reaching $136.18. 6,716,413 shares of the company traded hands, compared to its average volume of 4,812,421. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.41 and a quick ratio of 0.96. 3M Co has a 1-year low of $114.04 and a 1-year high of $219.75. The company has a 50 day moving average price of $149.59 and a 200-day moving average price of $164.42. The firm has a market capitalization of $76.32 billion, a PE ratio of 17.44, a P/E/G ratio of 1.55 and a beta of 1.08.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 14th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Thursday, February 13th. This is an increase from 3M’s previous quarterly dividend of $1.44. 3M’s payout ratio is presently 64.62%.
In other 3M news, CEO Michael F. Roman sold 8,906 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $162.00, for a total transaction of $1,442,772.00. Following the transaction, the chief executive officer now owns 48,152 shares in the company, valued at $7,800,624. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Ty R. Silberhorn sold 1,967 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $158.19, for a total transaction of $311,159.73. Following the transaction, the senior vice president now owns 3,849 shares in the company, valued at approximately $608,873.31. The disclosure for this sale can be found here. Insiders have sold a total of 17,123 shares of company stock worth $2,748,744 in the last quarter. 0.83% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on the stock. UBS Group lowered shares of 3M from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $180.00 to $160.00 in a research note on Thursday, December 12th. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 price objective on the stock in a research note on Tuesday, December 10th. Wolfe Research raised shares of 3M from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. JPMorgan Chase & Co. raised shares of 3M from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $143.00 to $150.00 in a research note on Monday, December 23rd. Finally, Citigroup reduced their price objective on shares of 3M from $180.00 to $176.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $172.33.
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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