Tokio Marine Asset Management Co. Ltd. Purchases 546 Shares of 3M (NYSE:MMM)

Tokio Marine Asset Management Co. Ltd. boosted its position in 3M (NYSE:MMM) by 3.4% in the 4th quarter, Holdings Channel reports. The firm owned 16,573 shares of the conglomerate’s stock after buying an additional 546 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in 3M were worth $2,139,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of 3M during the 3rd quarter worth approximately $27,000. McClarren Financial Advisors Inc. lifted its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC grew its holdings in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in 3M during the 3rd quarter valued at about $57,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research analyst reports. Barclays upped their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Performance

Shares of MMM opened at $152.26 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The firm has a market cap of $82.92 billion, a PE ratio of 20.17, a P/E/G ratio of 3.35 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $155.00. The stock has a fifty day moving average price of $135.21 and a 200-day moving average price of $131.08.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.77 billion. During the same period last year, the business posted $2.42 earnings per share. The firm’s revenue was down 25.0% compared to the same quarter last year. Equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.84%. 3M’s payout ratio is 37.09%.

Insiders Place Their Bets

In related news, Chairman Michael F. Roman sold 49,598 shares of the company’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the transaction, the chairman now directly owns 180,895 shares of the company’s stock, valued at $27,550,308.50. This represents a 21.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Theresa E. Reinseth sold 2,309 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $149.95, for a total value of $346,234.55. Following the sale, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,889 shares of company stock valued at $16,893,561. Insiders own 0.34% of the company’s stock.

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.