State of Wisconsin Investment Board boosted its position in shares of 3M Company (NYSE:MMM) by 9.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 543,030 shares of the conglomerate’s stock after buying an additional 47,205 shares during the period. State of Wisconsin Investment Board owned about 0.09% of 3M worth $103,898,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in MMM. Reilly Financial Advisors LLC boosted its stake in 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock worth $123,000 after buying an additional 24 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its stake in 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after buying an additional 4 shares in the last quarter. One Capital Management LLC purchased a new stake in 3M during the first quarter worth about $202,000. Pegasus Partners Ltd. purchased a new stake in 3M during the first quarter worth about $206,000. Finally, American Economic Planning Group Inc. ADV purchased a new stake in 3M during the first quarter worth about $207,000. Institutional investors and hedge funds own 66.29% of the company’s stock.

Shares of 3M Company (NYSE:MMM) traded down 0.37% during mid-day trading on Friday, hitting $203.56. The stock had a trading volume of 1,413,014 shares. The firm has a market cap of $121.48 billion, a PE ratio of 23.22 and a beta of 1.08. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.57. The stock has a 50 day moving average price of $205.60 and a 200 day moving average price of $199.41.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01. 3M had a net margin of 17.65% and a return on equity of 47.83%. The business had revenue of $7.81 billion during the quarter, compared to the consensus estimate of $7.86 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Equities research analysts expect that 3M Company will post $8.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be paid a $1.175 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $4.70 annualized dividend and a dividend yield of 2.31%. 3M’s payout ratio is 53.59%.

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A number of analysts have recently issued reports on MMM shares. BidaskClub cut 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $237.00 price objective on the stock in a research report on Monday, June 19th. Bank of America Corporation restated a “buy” rating and set a $225.00 price objective (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Citigroup Inc. restated a “buy” rating and set a $229.00 price objective (up from $220.00) on shares of 3M in a research report on Saturday, June 3rd. Finally, Jefferies Group LLC restated a “buy” rating and set a $234.00 price objective on shares of 3M in a research report on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $206.68.

In other news, insider Paul A. Keel sold 4,965 shares of 3M stock in a transaction on Friday, August 11th. The stock was sold at an average price of $206.16, for a total value of $1,023,584.40. Following the transaction, the insider now owns 5,503 shares in the company, valued at approximately $1,134,498.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Eric D. Hammes sold 1,428 shares of 3M stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the transaction, the vice president now owns 3,066 shares in the company, valued at approximately $633,619.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,112 shares of company stock worth $1,878,890. Corporate insiders own 0.58% of the company’s stock.

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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