Jacobs & Co. CA boosted its holdings in shares of 3M (NYSE:MMM) by 3.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 52,893 shares of the conglomerate’s stock after buying an additional 1,852 shares during the period. Jacobs & Co. CA’s holdings in 3M were worth $10,191,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Woodstock Corp raised its position in 3M by 1.2% during the first quarter. Woodstock Corp now owns 50,825 shares of the conglomerate’s stock valued at $9,793,000 after buying an additional 623 shares during the period. Fulton Bank N.A. raised its position in 3M by 11.1% during the first quarter. Fulton Bank N.A. now owns 13,167 shares of the conglomerate’s stock valued at $2,537,000 after buying an additional 1,316 shares during the period. Stillwater Investment Management LLC raised its position in 3M by 1.8% during the first quarter. Stillwater Investment Management LLC now owns 28,606 shares of the conglomerate’s stock valued at $5,512,000 after buying an additional 504 shares during the period. Chemung Canal Trust Co. raised its position in 3M by 19.6% during the first quarter. Chemung Canal Trust Co. now owns 65,348 shares of the conglomerate’s stock valued at $12,591,000 after buying an additional 10,713 shares during the period. Finally, Thomasville National Bank raised its position in 3M by 13.3% during the first quarter. Thomasville National Bank now owns 10,611 shares of the conglomerate’s stock valued at $1,449,000 after buying an additional 1,244 shares during the period. 64.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MMM traded up $1.39 during trading hours on Thursday, hitting $196.34. 33,283 shares of the company were exchanged, compared to its average volume of 2,818,080. The company has a market cap of $113.76 billion, a PE ratio of 22.85, a PEG ratio of 1.85 and a beta of 0.92. The firm’s 50 day moving average is $184.96 and its 200-day moving average is $174.00. 3M has a 52 week low of $131.12 and a 52 week high of $196.72. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.37 and a current ratio of 1.90.

3M (NYSE:MMM) last released its quarterly earnings results on Monday, January 25th. The conglomerate reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. 3M had a return on equity of 44.77% and a net margin of 15.65%. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the company posted $2.15 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that 3M will post 8.56 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 12th. Investors of record on Friday, February 12th were paid a dividend of $1.48 per share. This is an increase from 3M’s previous quarterly dividend of $1.47. The ex-dividend date was Thursday, February 11th. This represents a $5.92 annualized dividend and a yield of 3.02%. 3M’s dividend payout ratio is presently 65.05%.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and set a $205.00 price target on the stock in a research report on Wednesday, January 27th. Credit Suisse Group boosted their target price on 3M from $197.00 to $202.00 and gave the company an “outperform” rating in a research note on Monday, March 29th. Bank of America downgraded 3M from a “neutral” rating to an “underperform” rating and set a $170.00 target price on the stock. in a research note on Thursday, January 7th. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a research note on Thursday, January 28th. Finally, Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Wednesday, February 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. 3M has an average rating of “Hold” and a consensus price target of $184.33.

In related news, EVP Michael G. Vale sold 30,875 shares of the stock in a transaction that occurred on Friday, January 29th. The stock was sold at an average price of $175.53, for a total transaction of $5,419,488.75. Following the completion of the sale, the executive vice president now owns 79,155 shares in the company, valued at approximately $13,894,077.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

About 3M

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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

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