CX Institutional Has $467,000 Stock Position in 3M (NYSE:MMM)

CX Institutional increased its position in shares of 3M (NYSE:MMM) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 3,621 shares of the conglomerate’s stock after acquiring an additional 104 shares during the quarter. CX Institutional’s holdings in 3M were worth $467,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FSA Wealth Management LLC acquired a new stake in 3M during the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC raised its position in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. ORG Partners LLC grew its stake in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

MMM has been the topic of a number of research analyst reports. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, October 22nd. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday. Bank of America increased their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Mizuho raised their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two 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. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Trading Down 0.0 %

NYSE:MMM opened at $149.61 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company’s 50 day moving average is $132.83 and its 200-day moving average is $129.15. The firm has a market cap of $81.47 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $152.08.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business’s revenue was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.42 EPS. Equities analysts anticipate that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 37.09%.

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.