Mirae Asset Global Investments Co. Ltd. Has $15.33 Million Position in 3M (NYSE:MMM)

Mirae Asset Global Investments Co. Ltd. boosted its position in 3M (NYSE:MMM) by 38.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118,288 shares of the conglomerate’s stock after buying an additional 32,709 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in 3M were worth $15,330,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of 3M in the fourth quarter worth $25,000. FSA Wealth Management LLC acquired a new stake in 3M in the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC lifted its position in 3M by 8.6% during 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 in the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

MMM opened at $152.43 on Thursday. 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 business has a fifty day simple moving average of $135.98 and a 200 day simple moving average of $131.93. 3M has a 1 year low of $75.40 and a 1 year high of $155.00. The company has a market capitalization of $83.01 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96.

3M (NYSE:MMM) last announced its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same quarter in the previous year, the business posted $2.42 earnings per share. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. Research analysts expect that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 14th will be given a dividend of $0.73 per share. The ex-dividend date is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.92%. This is an increase from 3M’s previous quarterly dividend of $0.70. 3M’s dividend payout ratio is currently 37.09%.

Insiders Place Their Bets

In related news, EVP Victoria Clarke sold 1,750 shares of 3M stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 194 shares of the company’s stock, valued at $29,918.68. This trade represents a 90.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.43, for a total value of $944,098.74. Following the sale, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. The trade was a 55.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock worth $17,163,446 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

MMM has been the topic of several analyst reports. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

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.