IFM Investors Pty Ltd boosted its position in shares of 3M (NYSE:MMM) by 17.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,371 shares of the conglomerate’s stock after acquiring an additional 8,124 shares during the period. IFM Investors Pty Ltd’s holdings in 3M were worth $9,678,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MMM. Hohimer Wealth Management LLC lifted its holdings in shares of 3M by 0.7% during the fourth quarter. Hohimer Wealth Management LLC now owns 9,655 shares of the conglomerate’s stock worth $1,688,000 after purchasing an additional 64 shares during the period. LVM Capital Management Ltd. MI lifted its stake in 3M by 0.5% in the third quarter. LVM Capital Management Ltd. MI now owns 14,027 shares of the conglomerate’s stock worth $2,247,000 after purchasing an additional 69 shares during the last quarter. Strategic Wealth Management Group LLC boosted its position in 3M by 2.2% during the third quarter. Strategic Wealth Management Group LLC now owns 3,238 shares of the conglomerate’s stock valued at $519,000 after buying an additional 69 shares during the period. Larson Financial Group LLC grew its stake in shares of 3M by 2.9% during the third quarter. Larson Financial Group LLC now owns 2,484 shares of the conglomerate’s stock valued at $398,000 after buying an additional 70 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich increased its holdings in shares of 3M by 1.4% in the third quarter. Lester Murray Antman dba SimplyRich now owns 4,950 shares of the conglomerate’s stock worth $793,000 after buying an additional 70 shares during the period. 61.08% of the stock is currently owned by institutional investors.

Shares of MMM stock traded down $0.23 during midday trading on Wednesday, reaching $166.28. 1,935,648 shares of the stock were exchanged, compared to its average volume of 3,377,029. 3M has a 1 year low of $114.04 and a 1 year high of $182.54. The firm has a market cap of $95.91 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.13 and a beta of 0.93. The company’s 50 day moving average is $173.20 and its two-hundred day moving average is $165.46. The company has a current ratio of 1.90, a quick ratio of 1.37 and a debt-to-equity ratio of 1.54.

3M (NYSE:MMM) last issued its quarterly earnings results on Sunday, November 1st. The conglomerate reported $2.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.17. The company had revenue of $8.35 billion for the quarter, compared to analysts’ expectations of $8.38 billion. 3M had a return on equity of 44.77% and a net margin of 15.65%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 earnings per share. As a group, equities analysts expect that 3M will post 8.61 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on 3M from $159.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, October 7th. Morgan Stanley raised their target price on shares of 3M from $176.00 to $188.00 and gave the stock an “equal weight” rating in a report on Tuesday. Bank of America downgraded shares of 3M from a “neutral” rating to an “underperform” rating and set a $170.00 target price on the stock. in a research note on Thursday, January 7th. Gordon Haskett raised shares of 3M from an “underperform” rating to a “hold” rating and set a $170.00 price target for the company in a research report on Wednesday, October 7th. Finally, Credit Suisse Group boosted their price objective on shares of 3M from $179.00 to $197.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $173.00.

In related news, EVP Jeffrey R. Lavers sold 6,219 shares of the firm’s stock in a transaction that occurred on Tuesday, December 8th. The stock was sold at an average price of $172.09, for a total transaction of $1,070,227.71. Following the completion of the transaction, the executive vice president now owns 10,643 shares of the company’s stock, valued at approximately $1,831,553.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ivan K. Fong sold 15,073 shares of 3M stock in a transaction on Monday, November 16th. The shares were sold at an average price of $172.62, for a total value of $2,601,901.26. Following the transaction, the senior vice president now owns 47,886 shares of the company’s stock, valued at approximately $8,266,081.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,052 shares of company stock valued at $4,688,423. 0.42% of the stock is owned by company insiders.

3M Profile

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

Further Reading: Gap Down Stocks

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

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