Iberiabank Corp boosted its holdings in shares of 3M Co (NYSE:MMM) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,434 shares of the conglomerate’s stock after buying an additional 2,279 shares during the quarter. Iberiabank Corp’s holdings in 3M were worth $4,108,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Alpha Windward LLC lifted its holdings in 3M by 16.5% during the 4th quarter. Alpha Windward LLC now owns 1,441 shares of the conglomerate’s stock worth $339,000 after buying an additional 204 shares in the last quarter. Canal Capital Management LLC lifted its holdings in 3M by 3.2% during the 4th quarter. Canal Capital Management LLC now owns 7,101 shares of the conglomerate’s stock worth $1,671,000 after buying an additional 221 shares in the last quarter. ARGI Investment Services LLC lifted its holdings in 3M by 6.8% during the 3rd quarter. ARGI Investment Services LLC now owns 3,579 shares of the conglomerate’s stock worth $736,000 after buying an additional 227 shares in the last quarter. Palisade Asset Management LLC lifted its holdings in 3M by 0.4% during the 3rd quarter. Palisade Asset Management LLC now owns 67,089 shares of the conglomerate’s stock worth $14,082,000 after buying an additional 254 shares in the last quarter. Finally, Mosaic Family Wealth LLC lifted its holdings in 3M by 10.0% during the 3rd quarter. Mosaic Family Wealth LLC now owns 2,798 shares of the conglomerate’s stock worth $587,000 after buying an additional 255 shares in the last quarter. Institutional investors own 66.38% of the company’s stock.

Shares of 3M Co (MMM) opened at $225.21 on Friday. 3M Co has a fifty-two week low of $176.87 and a fifty-two week high of $259.77. The firm has a market cap of $134,112.56, a price-to-earnings ratio of 24.56, a PEG ratio of 2.09 and a beta of 1.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33.

3M (NYSE:MMM) last posted its earnings results on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. The firm had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $1.88 EPS. sell-side analysts anticipate that 3M Co will post 10.6 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.42%. This is an increase from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 15th. 3M’s dividend payout ratio (DPR) is 59.34%.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Vetr upgraded shares of 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 target price on the stock in a report on Monday. Stifel Nicolaus increased their target price on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Goldman Sachs Group reiterated a “sell” rating on shares of 3M in a report on Thursday, October 26th. Finally, Citigroup increased their target price on shares of 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $249.93.

In related news, EVP Michael F. Roman sold 4,146 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total value of $1,022,610.90. Following the transaction, the executive vice president now directly owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Inge G. Thulin sold 35,236 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the completion of the transaction, the chairman now directly owns 253,873 shares in the company, valued at $63,757,665.22. The disclosure for this sale can be found here. Insiders sold a total of 49,673 shares of company stock worth $12,420,577 over the last ninety days. Insiders own 0.58% of the company’s stock.

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3M Profile

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, , 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.

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

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