Candriam S.C.A. Buys 2,154 Shares of 3M (NYSE:MMM)

Candriam S.C.A. increased its stake in shares of 3M (NYSE:MMM) by 5.6% during the 4th quarter, Holdings Channel reports. The fund owned 40,543 shares of the conglomerate’s stock after acquiring an additional 2,154 shares during the period. Candriam S.C.A.’s holdings in 3M were worth $5,234,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in 3M by 16.2% during the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after acquiring an additional 20,421 shares in the last quarter. Franklin Resources Inc. boosted its stake in 3M by 26.8% during the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after acquiring an additional 178,450 shares in the last quarter. Meyer Handelman Co. boosted its stake in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after acquiring an additional 2,678 shares in the last quarter. FMR LLC boosted its stake in 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares in the last quarter. Finally, USA Financial Formulas bought a new position in 3M during the fourth quarter worth $816,000. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

Shares of MMM stock opened at $146.36 on Friday. 3M has a one year low of $78.14 and a one year high of $156.35. The firm has a 50-day moving average of $144.51 and a 200-day moving average of $136.23. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The company has a market cap of $79.46 billion, a P/E ratio of 19.38, a P/E/G ratio of 3.30 and a beta of 0.97.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter last year, the company posted $2.42 earnings per share. The firm’s quarterly revenue was down 25.0% compared to the same quarter last year. Equities research analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, February 14th. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio (DPR) is 38.68%.

Analyst Upgrades and Downgrades

MMM has been the topic of several research analyst reports. Citigroup upped their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. JPMorgan Chase & Co. upped their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Friday. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.13.

Insider Buying and Selling

In other 3M news, Chairman Michael F. Roman sold 49,598 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares in the company, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $154.22, for a total transaction of $269,885.00. Following the transaction, the executive vice president now owns 194 shares of the company’s stock, valued at $29,918.68. This represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,639 shares of company stock worth $17,163,446. Insiders own 0.34% of the company’s stock.

3M Profile

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.