Grantham Mayo Van Otterloo & Co. LLC Raises Position in 3M (NYSE:MMM)

Grantham Mayo Van Otterloo & Co. LLC grew its holdings in 3M (NYSE:MMM) by 107.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 236,551 shares of the conglomerate’s stock after acquiring an additional 122,434 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in 3M were worth $30,536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Financial Life Planners acquired a new position in 3M during the 4th quarter worth $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M during the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M during the fourth quarter worth approximately $27,000. Daymark Wealth Partners LLC raised its holdings in 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 1,645 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $150.25, for a total value of $247,161.25. Following the sale, the insider now owns 5,153 shares of the company’s stock, valued at approximately $774,238.25. This represents a 24.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Victoria Clarke sold 1,750 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $154.22, for a total value of $269,885.00. Following the sale, the executive vice president now owns 194 shares in the company, valued at approximately $29,918.68. This trade represents a 90.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,639 shares of company stock valued at $17,163,446. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MMM. JPMorgan Chase & Co. raised their price objective on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Citigroup lifted their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a report on Saturday, March 22nd. Finally, Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.13.

3M Stock Performance

Shares of MMM opened at $126.62 on Friday. 3M has a 1 year low of $90.17 and a 1 year high of $156.35. The stock has a market capitalization of $68.29 billion, a P/E ratio of 16.77, a P/E/G ratio of 3.30 and a beta of 0.97. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company’s fifty day moving average is $149.05 and its two-hundred day moving average is $138.55.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business’s revenue was down 25.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 EPS. On average, sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a dividend yield of 2.31%. 3M’s payout ratio is currently 38.68%.

3M Company 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.