Vanguard Personalized Indexing Management LLC Boosts Stock Holdings in 3M (NYSE:MMM)

Vanguard Personalized Indexing Management LLC boosted its stake in 3M (NYSE:MMM) by 15.2% during the 2nd quarter, Holdings Channel reports. The firm owned 40,443 shares of the conglomerate’s stock after buying an additional 5,331 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in 3M were worth $4,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MMM. Balyasny Asset Management L.P. boosted its stake in 3M by 313.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock valued at $289,803,000 after buying an additional 2,010,319 shares during the last quarter. Capital World Investors bought a new position in shares of 3M during the 1st quarter valued at approximately $165,986,000. National Bank of Canada FI grew its holdings in shares of 3M by 218.3% in the first quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock valued at $147,344,000 after purchasing an additional 1,021,440 shares in the last quarter. Janus Henderson Group PLC increased its position in 3M by 1,015.6% in the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after purchasing an additional 808,914 shares during the last quarter. Finally, Schroder Investment Management Group raised its stake in 3M by 129.8% during the fourth quarter. Schroder Investment Management Group now owns 1,352,528 shares of the conglomerate’s stock valued at $147,858,000 after purchasing an additional 764,066 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Trading Up 0.4 %

Shares of MMM opened at $133.84 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The firm has a market capitalization of $74.06 billion, a price-to-earnings ratio of -10.52, a PEG ratio of 2.41 and a beta of 0.95. The company has a 50-day moving average of $124.02 and a 200 day moving average of $107.50. 3M has a 1-year low of $71.12 and a 1-year high of $135.32.

3M (NYSE:MMM) last announced its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same quarter in the previous year, the business earned $2.17 earnings per share. On average, research analysts expect that 3M will post 7.22 EPS for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.70 dividend. The ex-dividend date was Monday, August 26th. This represents a $2.80 annualized dividend and a dividend yield of 2.09%. 3M’s payout ratio is currently -22.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 10th. Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective on the stock in a research note on Thursday, June 13th. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Bank of America boosted their target price on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $124.43.

Insider Buying and Selling

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

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.