3M (NYSE:MMM) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its stake in 3M (NYSE:MMMFree Report) by 0.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 493,030 shares of the conglomerate’s stock after selling 1,778 shares during the period. Stifel Financial Corp owned 0.09% of 3M worth $67,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MMM. FMR LLC increased its stake in 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC increased its stake 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 purchasing an additional 1,250,491 shares during the period. Electron Capital Partners LLC acquired a new position in 3M during the 2nd quarter valued at $76,732,000. Jennison Associates LLC bought a new stake in 3M in the 3rd quarter valued at $82,208,000. Finally, Bank of New York Mellon Corp raised its position in 3M by 11.8% in the second quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock worth $517,617,000 after purchasing an additional 533,520 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 0.2 %

NYSE MMM opened at $133.08 on Friday. The stock has a market capitalization of $72.47 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 2.16 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The stock’s 50 day moving average price is $131.97 and its two-hundred day moving average price is $120.97. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMMGet Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. As a group, analysts anticipate that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Ratings Changes

MMM has been the topic of a number of recent research reports. Barclays lifted their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America increased their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada boosted their target price on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.87.

View Our Latest Stock Report on 3M

3M Profile

(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.

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

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