Dynamic Advisors Solutions LLC raised its holdings in shares of 3M Co (NYSE:MMM) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,472 shares of the conglomerate’s stock after purchasing an additional 423 shares during the quarter. Dynamic Advisors Solutions LLC’s holdings in 3M were worth $1,287,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its stake in shares of 3M by 1.4% in the 4th quarter. BlackRock Inc. now owns 38,828,584 shares of the conglomerate’s stock worth $9,139,087,000 after acquiring an additional 521,880 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of 3M by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 6,379,814 shares of the conglomerate’s stock worth $1,501,619,000 after acquiring an additional 28,908 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of 3M by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock worth $746,391,000 after acquiring an additional 142,799 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of 3M by 8.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,024,371 shares of the conglomerate’s stock worth $476,476,000 after acquiring an additional 159,668 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of 3M by 0.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock worth $356,877,000 after acquiring an additional 8,500 shares in the last quarter. Institutional investors and hedge funds own 66.89% of the company’s stock.
Several analysts have recently issued reports on MMM shares. Argus reiterated a “buy” rating on shares of 3M in a research note on Friday, December 22nd. Citigroup upped their target price on shares of 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Hilliard Lyons upgraded shares of 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $221.00 target price (up previously from $208.00) on shares of 3M in a research note on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a research note on Monday, January 15th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $254.02.
3M Co (NYSE MMM) opened at $237.57 on Wednesday. The firm has a market cap of $142,800.91, a PE ratio of 26.15, a P/E/G ratio of 2.23 and a beta of 1.10. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. 3M Co has a 1 year low of $188.62 and a 1 year high of $259.77.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.07. The company had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.88 earnings per share. equities analysts forecast that 3M Co will post 10.59 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a yield of 2.29%. 3M’s dividend payout ratio is 68.69%.
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3M Company 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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