American Century Companies Inc. Has $13.27 Million Stock Holdings in 3M (NYSE:MMM)

American Century Companies Inc. raised its stake in shares of 3M ( NYSE:MMM – Free Report ) by 12.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission.

The firm owned 102,773 shares of the conglomerate’s stock after buying an additional 11,032 shares during the period. American Century Companies Inc.’s holdings in 3M were worth $13,267,000 as of its most recent SEC filing.



Several other institutional investors and hedge funds have also modified their holdings of the stock. Wayfinding Financial LLC acquired a new stake in 3M in the fourth quarter valued at approximately $851,000. Franklin Resources Inc.

lifted its stake in shares of 3M by 26.8% in the 3rd quarter. Franklin Resources Inc.

now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after purchasing an additional 178,450 shares during the last quarter. Meyer Handelman Co. boosted its holdings in 3M by 1.

4% in the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after purchasing an additional 2,678 shares in the last quarter.

USA Financial Formulas acquired a new position in 3M during the fourth quarter worth $816,000. Finally, Braun Stacey Associates Inc. raised its holdings in 3M by 18.

4% during the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate’s stock valued at $18,408,000 after buying an additional 22,203 shares in the last quarter.

65.25% of the stock is currently owned by hedge funds and other institutional investors. Wall Street Analysts Forecast Growth A number of research analysts have recently commented on MMM shares.

JPMorgan Chase & Co. increased their price objective on 3M from $162.00 to $165.

00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Barclays lifted their price target on shares of 3M from $161.00 to $165.

00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Bank of America upped their price target on shares of 3M from $175.00 to $179.

00 and gave the company a “buy” rating in a report on Thursday, March 6th. Citigroup raised their target price on 3M from $142.00 to $152.

00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $170.

00 in a report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.

com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.13. Insider Transactions at 3M In other news, CAO Theresa E.

Reinseth sold 2,309 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $149.95, for a total transaction of $346,234.

55. Following the sale, the chief accounting officer now directly owns 4,417 shares of the company’s stock, valued at $662,329.15.

This represents a 34.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link .

Also, insider Christian T. Goralski, Jr. sold 6,318 shares of the business’s stock in a transaction that occurred on Friday, January 24th.

The stock was sold at an average price of $149.43, for a total transaction of $944,098.74.

Following the completion of the transaction, the insider now owns 5,024 shares of the company’s stock, valued at $750,736.32. This trade represents a 55.

70 % decrease in their position. The disclosure for this sale can be found here . Insiders have sold 113,639 shares of company stock valued at $17,163,446 in the last three months.

0.34% of the stock is owned by corporate insiders. 3M Price Performance Shares of MMM stock opened at $147.

74 on Wednesday. The stock’s fifty day simple moving average is $149.73 and its 200 day simple moving average is $138.

49. 3M has a one year low of $89.54 and a one year high of $156.

35. The firm has a market cap of $79.68 billion, a price-to-earnings ratio of 19.

57, a P/E/G ratio of 3.30 and a beta of 0.97.

The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.

08. 3M ( NYSE:MMM – Get Free Report ) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.

68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02.

3M had a net margin of 15.71% and a return on equity of 100.77%.

The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.77 billion.

During the same quarter in the prior year, the firm earned $2.42 EPS. The firm’s quarterly revenue was down 25.

0% compared to the same quarter last year. On average, analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a $0.73 dividend.

The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.

98%. This is a boost from 3M’s previous quarterly dividend of $0.70.

3M’s payout ratio is 38.68%. About 3M ( Free Report ) 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. Further Reading Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M ( NYSE:MMM – Free Report ).

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