Forsta AP Fonden Grows Stock Holdings in 3M (NYSE:MMM)

Forsta AP Fonden raised its stake in 3M (NYSE:MMM) by 11.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,854 shares of the conglomerate’s stock after buying an additional 12,000 shares during the period. Forsta AP Fonden’s holdings in 3M were worth $15,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Stonegate Investment Group LLC boosted its position in 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after buying an additional 13,473 shares during the period. Ausdal Financial Partners Inc. lifted its position in shares of 3M by 6.7% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after purchasing an additional 249 shares during the period. Candriam S.C.A. lifted its position in shares of 3M by 19.2% in the 2nd quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock worth $3,931,000 after purchasing an additional 6,185 shares during the period. True Vision MN LLC purchased a new stake in shares of 3M in the 2nd quarter worth approximately $512,000. Finally, Clifford Capital Partners LLC lifted its position in shares of 3M by 21.3% in the 2nd quarter. Clifford Capital Partners LLC now owns 171,152 shares of the conglomerate’s stock worth $17,490,000 after purchasing an additional 30,009 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MMM. StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Morgan Stanley began coverage on shares of 3M in a research report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Wells Fargo & Company upped their price target on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Mizuho boosted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $135.67.

3M Trading Down 1.4 %

Shares of 3M stock opened at $124.75 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 12-month low of $72.47 and a 12-month high of $141.34. The firm has a market capitalization of $68.53 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 2.42 and a beta of 0.95. The firm’s 50 day simple moving average is $133.00 and its two-hundred day simple moving average is $114.03.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. Analysts predict that 3M will post 7.26 EPS for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

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.