Swedbank AB Has $57.20 Million Holdings in 3M (NYSE:MMM)

Swedbank AB boosted its stake in shares of 3M (NYSE:MMM) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 418,438 shares of the conglomerate’s stock after purchasing an additional 39,206 shares during the quarter. Swedbank AB owned 0.08% of 3M worth $57,200,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. CVA Family Office LLC increased its holdings in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the period. Fortis Capital Advisors LLC increased its holdings in 3M by 2.9% in the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after buying an additional 84 shares during the period. Brown Brothers Harriman & Co. grew its holdings in shares of 3M by 0.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 22,613 shares of the conglomerate’s stock worth $2,311,000 after purchasing an additional 97 shares during the last quarter. AMG National Trust Bank grew its holdings in shares of 3M by 3.1% in the 2nd quarter. AMG National Trust Bank now owns 3,326 shares of the conglomerate’s stock worth $340,000 after purchasing an additional 100 shares during the last quarter. Finally, Platinum Investment Management Ltd. grew its holdings in shares of 3M by 11.4% in the 1st quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate’s stock worth $108,000 after purchasing an additional 104 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MMM shares. Bank of America upped their price target on shares of 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Tuesday, July 30th. Morgan Stanley started coverage on shares of 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target on the stock. Royal Bank of Canada upped their price target on shares of 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Finally, Citigroup upped their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $127.64.

3M Price Performance

3M stock opened at $135.75 on Wednesday. The stock’s 50 day moving average is $131.97 and its 200 day moving average is $111.97. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.36 and a quick ratio of 1.08. The firm has a market cap of $75.12 billion, a P/E ratio of -10.67, a P/E/G ratio of 2.49 and a beta of 0.95. 3M has a one year low of $71.12 and a one year high of $140.72.

3M (NYSE:MMM) last issued its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period in the previous year, the firm earned $2.17 earnings per share. As a group, research analysts expect that 3M will post 7.24 EPS for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.06%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Insider Transactions at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at $21,486,484.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is 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.