3M (NYSE:MMM) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of 3M (NYSE:MMM) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,287 shares of the conglomerate’s stock after buying an additional 346 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in 3M were worth $906,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MMM. Telos Capital Management Inc. lifted its stake in shares of 3M by 133.2% during the 4th quarter. Telos Capital Management Inc. now owns 6,838 shares of the conglomerate’s stock worth $748,000 after purchasing an additional 3,906 shares during the period. Rakuten Securities Inc. purchased a new position in shares of 3M during the 4th quarter worth $159,000. Tyche Wealth Partners LLC purchased a new position in shares of 3M during the 4th quarter worth $723,000. Allen Capital Group LLC raised its position in shares of 3M by 0.5% in the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock worth $2,288,000 after buying an additional 105 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of 3M by 3.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 376,492 shares of the conglomerate’s stock worth $41,158,000 after buying an additional 11,107 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.6 %

NYSE:MMM opened at $91.49 on Thursday. The firm has a market capitalization of $50.63 billion, a PE ratio of -7.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The stock has a 50 day moving average of $95.81 and a 200-day moving average of $97.26. 3M has a 52 week low of $71.12 and a 52 week high of $95.67. The company has a current ratio of 1.07, a quick ratio of 0.76 and a debt-to-equity ratio of 2.69.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating the consensus estimate of $2.31 by $0.11. The company had revenue of $8.01 billion during the quarter, compared to analyst estimates 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 was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.28 earnings per share. Analysts predict that 3M will post 8.79 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a dividend yield of 6.60%. 3M’s dividend payout ratio is -47.82%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MMM shares. Citigroup increased their target price on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Barclays dropped their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. StockNews.com raised 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price on shares of 3M in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada dropped their target price on 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, 3M currently has an average rating of “Hold” and an average price target of $104.00.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’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 transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.