BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 31,923 Shares of 3M (NYSE:MMM)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of 3M (NYSE:MMM) by 8.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 389,209 shares of the conglomerate’s stock after purchasing an additional 31,923 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned 0.07% of 3M worth $53,205,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MMM. Bank of New York Mellon Corp increased its holdings in shares of 3M by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after acquiring an additional 533,520 shares during the period. Pacer Advisors Inc. boosted its position in 3M by 2.0% during the second quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock valued at $506,135,000 after purchasing an additional 97,340 shares in the last quarter. AQR Capital Management LLC grew its stake in 3M by 18.6% in the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock valued at $258,686,000 after purchasing an additional 396,773 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 3M by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,940,202 shares of the conglomerate’s stock valued at $198,298,000 after purchasing an additional 11,315 shares during the last quarter. Finally, Capital World Investors purchased a new stake in shares of 3M during the first quarter valued at about $165,986,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

MMM opened at $127.32 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The firm has a 50 day moving average of $132.66 and a two-hundred day moving average of $118.73. The firm has a market capitalization of $69.33 billion, a PE ratio of 16.08, a P/E/G ratio of 2.12 and a beta of 0.95.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter last year, the company posted $2.68 earnings per share. The firm’s revenue was down 24.3% compared to the same quarter last year. On average, analysts anticipate that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.20%. The ex-dividend date is Friday, November 15th. 3M’s dividend payout ratio (DPR) is 35.35%.

Analyst Ratings Changes

Several research firms recently commented on MMM. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $150.00 in a research report on Monday, July 29th. Finally, Barclays raised their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.87.

3M Company Profile

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.