Timber Hill LLC acquired a new position in shares of 3M Co (NYSE:MMM) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 22,133 shares of the conglomerate’s stock, valued at approximately $5,209,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lenox Wealth Advisors Inc. raised its stake in 3M by 16,300.0% in the fourth quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after buying an additional 489 shares during the last quarter. Horan Capital Management purchased a new stake in 3M in the fourth quarter valued at about $123,000. Sawyer & Company Inc purchased a new stake in 3M in the fourth quarter valued at about $138,000. Field & Main Bank purchased a new stake in 3M in the fourth quarter valued at about $140,000. Finally, Mascoma Wealth Management LLC raised its stake in 3M by 87.5% in the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 66.89% of the company’s stock.
MMM has been the subject of a number of research analyst reports. Hilliard Lyons upgraded 3M from a “neutral” rating to a “buy” rating and set a $285.00 price target for the company in a research note on Wednesday, January 24th. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $278.00 price target for the company in a research note on Tuesday, January 23rd. Argus reiterated a “buy” rating on shares of 3M in a research note on Friday, December 22nd. Citigroup increased their price target on 3M from $268.00 to $278.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Vetr upgraded 3M from a “hold” rating to a “buy” rating and set a $250.06 price target for the company in a research note on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and an average price target of $254.02.
3M Co (NYSE MMM) opened at $237.57 on Wednesday. 3M Co has a 12 month low of $188.62 and a 12 month high of $259.77. The stock has a market capitalization of $142,800.91, a PE ratio of 26.15, a PEG ratio of 2.23 and a beta of 1.10. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04.
3M (NYSE:MMM) last announced its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same period last year, the business posted $1.88 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. research analysts anticipate that 3M Co will post 10.59 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were issued a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.29%. This is a positive change from 3M’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) 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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