Motco Boosts Holdings in 3M (NYSE:MMM)

Motco grew its holdings in 3M (NYSE:MMMGet Rating) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,274 shares of the conglomerate’s stock after purchasing an additional 689 shares during the quarter. Motco’s holdings in 3M were worth $6,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MMM. Morgan Stanley raised its holdings in 3M by 16.4% in the second quarter. Morgan Stanley now owns 5,903,837 shares of the conglomerate’s stock valued at $1,172,678,000 after acquiring an additional 832,796 shares in the last quarter. Van ECK Associates Corp raised its holdings in 3M by 10.0% in the third quarter. Van ECK Associates Corp now owns 84,443 shares of the conglomerate’s stock valued at $14,813,000 after acquiring an additional 7,693 shares in the last quarter. Financial Advocates Investment Management raised its holdings in 3M by 8.8% in the third quarter. Financial Advocates Investment Management now owns 10,237 shares of the conglomerate’s stock valued at $1,796,000 after acquiring an additional 827 shares in the last quarter. Intrust Bank NA raised its holdings in 3M by 4.7% during the third quarter. Intrust Bank NA now owns 2,587 shares of the conglomerate’s stock worth $454,000 after purchasing an additional 115 shares in the last quarter. Finally, Versor Investments LP raised its holdings in 3M by 80.8% during the third quarter. Versor Investments LP now owns 6,011 shares of the conglomerate’s stock worth $1,054,000 after purchasing an additional 2,687 shares in the last quarter. 66.06% of the stock is owned by institutional investors and hedge funds.

A number of analysts have weighed in on MMM shares. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating and set a $159.00 price objective on the stock. in a report on Friday, April 22nd. UBS Group cut their price objective on shares of 3M from $168.00 to $118.00 and set a “sell” rating on the stock in a report on Friday, March 11th. Mizuho cut their price objective on shares of 3M from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, February 15th. Barclays cut their price objective on shares of 3M from $155.00 to $146.00 and set an “underweight” rating on the stock in a report on Wednesday. Finally, StockNews.com began coverage on shares of 3M in a report on Thursday, March 31st. They set a “hold” rating on the stock. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $164.73.

NYSE:MMM traded down $2.92 during midday trading on Friday, reaching $144.22. The stock had a trading volume of 4,152,261 shares, compared to its average volume of 2,511,295. The firm has a fifty day simple moving average of $147.66 and a two-hundred day simple moving average of $165.22. 3M has a 12-month low of $139.74 and a 12-month high of $208.95. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.99. The stock has a market cap of $82.09 billion, a P/E ratio of 15.01, a P/E/G ratio of 1.47 and a beta of 0.97.

3M (NYSE:MMMGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.34. 3M had a net margin of 15.84% and a return on equity of 39.35%. The firm had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.75 billion. During the same period last year, the firm posted $2.77 EPS. 3M’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that 3M will post 10.85 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Saturday, March 12th. Shareholders of record on Friday, February 18th were given a dividend of $1.49 per share. This is a positive change from 3M’s previous quarterly dividend of $1.48. This represents a $5.96 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Thursday, February 17th. 3M’s payout ratio is presently 62.02%.

3M Company Profile (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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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