3M (NYSE:MMM) Holdings Raised by Ziegler Capital Management LLC

Ziegler Capital Management LLC lifted its stake in shares of 3M (NYSE:MMMFree Report) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,172 shares of the conglomerate’s stock after purchasing an additional 1,546 shares during the quarter. Ziegler Capital Management LLC’s holdings in 3M were worth $2,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in 3M by 0.7% in the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock worth $4,590,533,000 after acquiring an additional 317,483 shares in the last quarter. State Street Corp raised its position in 3M by 0.6% in the second quarter. State Street Corp now owns 33,311,747 shares of the conglomerate’s stock worth $3,334,173,000 after acquiring an additional 196,238 shares in the last quarter. Geode Capital Management LLC raised its position in 3M by 3.2% in the second quarter. Geode Capital Management LLC now owns 11,846,089 shares of the conglomerate’s stock worth $1,182,812,000 after acquiring an additional 371,298 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in 3M by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate’s stock worth $1,684,639,000 after acquiring an additional 758,126 shares in the last quarter. Finally, Morgan Stanley raised its position in 3M by 8.3% in the fourth quarter. Morgan Stanley now owns 10,769,973 shares of the conglomerate’s stock worth $1,291,535,000 after acquiring an additional 825,223 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.34% of the stock is currently owned by company insiders.

3M Trading Up 2.6 %

NYSE:MMM opened at $108.10 on Thursday. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. 3M has a fifty-two week low of $85.35 and a fifty-two week high of $113.14. The stock’s 50-day moving average is $97.11 and its two-hundred day moving average is $97.75. The stock has a market cap of $59.75 billion, a PE ratio of -8.56, a price-to-earnings-growth ratio of 1.49 and a beta of 1.00.

3M (NYSE:MMMGet Free Report) last released its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.11. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.28 EPS. As a group, equities research analysts forecast that 3M will post 9.77 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a $1.51 dividend. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 5.59%. 3M’s payout ratio is presently -47.82%.

Analyst Ratings Changes

Several brokerages have commented on MMM. Barclays upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $111.00 to $126.00 in a research report on Tuesday. StockNews.com assumed coverage on 3M in a report on Tuesday. They set a “buy” rating on the stock. Royal Bank of Canada restated an “underperform” rating and set a $84.00 price objective on shares of 3M in a report on Wednesday. Wells Fargo & Company cut their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. Finally, Citigroup cut their price objective on 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, 3M presently has an average rating of “Hold” and an average price target of $107.60.

Check Out Our Latest Report on 3M

3M Company Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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