Susquehanna Fundamental Investments LLC Makes New $40.35 Million Investment in 3M (NYSE:MMM)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of 3M (NYSE:MMM) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 312,592 shares of the conglomerate’s stock, valued at approximately $40,353,000. 3M makes up about 0.6% of Susquehanna Fundamental Investments LLC’s investment portfolio, making the stock its 12th biggest position.

Several other hedge funds have also recently modified their holdings of MMM. Financial Life Planners bought a new stake in 3M in the 4th quarter valued at $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M during the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. bought a new stake in shares of 3M in the fourth quarter worth about $27,000. Daymark Wealth Partners LLC lifted its position in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after buying an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after buying an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Down 1.1 %

Shares of NYSE MMM opened at $137.30 on Friday. 3M has a fifty-two week low of $91.08 and a fifty-two week high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market cap of $74.05 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 3.30 and a beta of 1.01. The business’s 50 day moving average price is $143.15 and its 200-day moving average price is $138.21.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, sell-side analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a $0.73 dividend. This is an increase from 3M’s previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Friday, February 14th. 3M’s dividend payout ratio is currently 38.68%.

Insider Transactions at 3M

In related news, EVP Kevin H. Rhodes sold 6,743 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the transaction, the executive vice president now owns 4,902 shares of the company’s stock, valued at $734,564.70. This represents a 57.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Victoria Clarke sold 1,750 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $154.22, for a total value of $269,885.00. Following the transaction, the executive vice president now owns 194 shares in the company, valued at $29,918.68. The trade was a 90.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,736 shares of company stock valued at $9,081,260. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research reports. Royal Bank of Canada lifted their price objective on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Thursday. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Bank of America boosted their target price on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

3M Company 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.