Capital Performance Advisors LLP Raises Position in 3M (NYSE:MMM)

Capital Performance Advisors LLP lifted its holdings in 3M (NYSE:MMM) by 31.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,782 shares of the conglomerate’s stock after buying an additional 422 shares during the quarter. Capital Performance Advisors LLP’s holdings in 3M were worth $230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after buying an additional 302,900 shares during the period. FMR LLC raised its holdings in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after buying an additional 43,942 shares during the period. National Pension Service raised its holdings in shares of 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after buying an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after buying an additional 1,250,491 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MMM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Saturday, February 1st. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Stock Down 0.0 %

Shares of NYSE MMM opened at $148.65 on Monday. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $80.70 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 3.37 and a beta of 0.96. The stock’s fifty day simple moving average is $138.80 and its two-hundred day simple moving average is $133.83. 3M has a 12-month low of $75.40 and a 12-month high of $155.00.

3M (NYSE:MMM) last posted its quarterly earnings data 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 analysts’ expectations of $5.77 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.42 EPS. As a group, analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th will be given a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

Insider Transactions at 3M

In related news, EVP Kevin H. Rhodes sold 6,743 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.85, for a total value of $1,010,438.55. Following the completion of the transaction, the executive vice president now owns 4,902 shares in the company, valued at $734,564.70. This trade represents a 57.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Michael F. Roman sold 49,598 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total value of $7,553,775.40. Following the completion of the transaction, the chairman now owns 180,895 shares of the company’s stock, valued at $27,550,308.50. This trade represents a 21.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,639 shares of company stock valued at $17,163,446 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.