3M (NYSE:MMM) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in 3M (NYSE:MMM) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,080,578 shares of the conglomerate’s stock after purchasing an additional 43,732 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.19% of 3M worth $1,320,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of 3M by 15.4% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock valued at $10,391,000 after purchasing an additional 14,775 shares in the last quarter. Shoker Investment Counsel Inc. raised its holdings in shares of 3M by 49.7% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock valued at $1,568,000 after buying an additional 5,561 shares during the period. MWA Asset Management purchased a new stake in shares of 3M during the 4th quarter valued at about $1,723,000. Diversified Trust Co raised its holdings in shares of 3M by 1.4% during the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock valued at $2,021,000 after buying an additional 263 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of 3M during the 3rd quarter valued at about $11,908,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

Shares of 3M stock traded up $0.09 during trading hours on Wednesday, reaching $95.63. The company’s stock had a trading volume of 1,385,055 shares, compared to its average volume of 5,820,247. The company’s 50 day simple moving average is $96.30 and its 200 day simple moving average is $97.84. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. 3M has a one year low of $71.12 and a one year high of $99.70. The stock has a market cap of $52.92 billion, a P/E ratio of -7.54, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter last year, the company earned $1.97 EPS. As a group, analysts expect that 3M will post 7.23 EPS for the current fiscal year.

Insider Transactions at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MMM shares. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and raised their target price for the company from $110.00 to $111.00 in a report on Wednesday, May 1st. UBS Group raised their target price on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Barclays dropped their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. Royal Bank of Canada lifted their price objective on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. Finally, Bank of America decreased their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $103.70.

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.