Sarasin & Partners LLP Raises Stake in 3M Co (MMM)

Sarasin & Partners LLP lifted its stake in shares of 3M Co (NYSE:MMM) by 0.2% in the 4th quarter, HoldingsChannel reports. The fund owned 713,619 shares of the conglomerate’s stock after acquiring an additional 1,628 shares during the quarter. 3M comprises 3.3% of Sarasin & Partners LLP’s holdings, making the stock its 6th biggest position. Sarasin & Partners LLP’s holdings in 3M were worth $167,965,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goelzer Investment Management Inc. boosted its stake in shares of 3M by 3.4% during the 4th quarter. Goelzer Investment Management Inc. now owns 26,857 shares of the conglomerate’s stock worth $6,321,000 after acquiring an additional 886 shares in the last quarter. Moreno Evelyn V bought a new stake in shares of 3M during the 4th quarter worth $212,000. Anchor Capital Advisors LLC boosted its position in shares of 3M by 2.8% in the fourth quarter. Anchor Capital Advisors LLC now owns 91,540 shares of the conglomerate’s stock worth $21,546,000 after buying an additional 2,500 shares during the period. Putnam FL Investment Management Co. boosted its position in shares of 3M by 6.1% in the fourth quarter. Putnam FL Investment Management Co. now owns 8,793 shares of the conglomerate’s stock worth $2,070,000 after buying an additional 506 shares during the period. Finally, MPI Investment Management Inc. acquired a new stake in shares of 3M in the fourth quarter worth $250,000. 66.17% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman Inge G. Thulin sold 35,236 shares of 3M stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the completion of the sale, the chairman now owns 253,873 shares of the company’s stock, valued at $63,757,665.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael F. Roman sold 4,146 shares of 3M stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total value of $1,022,610.90. Following the sale, the executive vice president now directly owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,673 shares of company stock valued at $12,420,577. Insiders own 0.58% of the company’s stock.

Shares of 3M Co (NYSE MMM) opened at $237.02 on Friday. The stock has a market capitalization of $141,145.41, a price-to-earnings ratio of 25.85, a P/E/G ratio of 2.20 and a beta of 1.08. 3M Co has a 12-month low of $186.30 and a 12-month high of $259.77. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.

3M (NYSE:MMM) last released its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 earnings per share. equities analysts forecast that 3M Co will post 10.59 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a dividend of $1.36 per share. This is a boost from 3M’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, February 15th. This represents a $5.44 dividend on an annualized basis and a yield of 2.30%. 3M’s dividend payout ratio (DPR) is presently 68.69%.

Several analysts have recently commented on MMM shares. Zacks Investment Research cut 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. ValuEngine cut 3M from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Vetr raised 3M from a “hold” rating to a “buy” rating and set a $250.06 target price for the company in a research report on Monday, February 5th. Barclays started coverage on 3M in a research report on Thursday, February 15th. They issued an “underweight” rating and a $235.00 target price for the company. Finally, Hilliard Lyons raised 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a research report on Wednesday, January 24th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $254.25.

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3M Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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