Tokio Marine Asset Management Co. Ltd. Grows Position in 3M (NYSE:MMM)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in 3M (NYSE:MMM) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,573 shares of the conglomerate’s stock after buying an additional 546 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in 3M were worth $2,139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MMM. FSA Wealth Management LLC bought a new position in 3M during the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the period. ORG Partners LLC increased its position in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares during the period. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MMM. Royal Bank of Canada reaffirmed an “underperform” rating and set a $96.00 price target on shares of 3M in a research report on Wednesday, January 22nd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and lifted their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Barclays upped their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Price Performance

Shares of NYSE:MMM opened at $152.26 on Monday. The firm has a market cap of $82.92 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 3.35 and a beta of 0.95. The firm has a fifty day moving average price of $135.21 and a 200 day moving average price of $131.08. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $155.00. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm earned $2.42 EPS. The business’s revenue was down 25.0% on a year-over-year basis. As a group, sell-side analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.84%. 3M’s dividend payout ratio (DPR) is 37.09%.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $150.25, for a total transaction of $247,161.25. Following the sale, the insider now directly owns 5,153 shares in the company, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 49,598 shares of 3M stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares of the company’s stock, valued at approximately $27,550,308.50. This represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 111,889 shares of company stock worth $16,893,561. 0.34% of the stock is currently 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.