Cladis Investment Advisory LLC Acquires 351 Shares of 3M (NYSE:MMM)

Cladis Investment Advisory LLC raised its position in 3M (NYSE:MMMFree Report) by 8.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,323 shares of the conglomerate’s stock after purchasing an additional 351 shares during the period. Cladis Investment Advisory LLC’s holdings in 3M were worth $473,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of 3M by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock valued at $4,590,533,000 after acquiring an additional 317,483 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of 3M by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,080,578 shares of the conglomerate’s stock valued at $1,320,649,000 after acquiring an additional 43,732 shares during the period. Norges Bank acquired a new position in shares of 3M during the 4th quarter valued at $502,585,000. Invesco Ltd. lifted its position in shares of 3M by 2.4% during the 3rd quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock valued at $382,246,000 after acquiring an additional 94,864 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of 3M by 1,273.9% during the 4th quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after acquiring an additional 3,508,334 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

MMM has been the subject of a number of recent research reports. Barclays boosted their price target on shares of 3M from $112.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. Bank of America upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price target for the company from $105.00 to $120.00 in a research note on Friday. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. UBS Group boosted their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Finally, Citigroup boosted their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $110.36.

Check Out Our Latest Stock Report on 3M

3M Stock Performance

MMM traded up $2.64 during trading on Friday, hitting $100.86. 5,636,659 shares of the company traded hands, compared to its average volume of 5,004,987. The firm has a market cap of $55.81 billion, a P/E ratio of -7.93, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. The stock’s fifty day moving average is $96.36 and its 200 day moving average is $99.06. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. 3M has a one year low of $71.12 and a one year high of $106.04.

3M (NYSE:MMMGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.29. The company had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the prior year, the business earned $1.97 earnings per share. As a group, equities analysts predict that 3M will post 7.23 EPS for the current fiscal year.

3M Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is presently -22.01%.

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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