Simon Quick Advisors LLC Raises Position in 3M (NYSE:MMM)

Simon Quick Advisors LLC lifted its stake in shares of 3M (NYSE:MMM) by 47.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,316 shares of the conglomerate’s stock after buying an additional 1,063 shares during the period. Simon Quick Advisors LLC’s holdings in 3M were worth $428,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after acquiring an additional 302,900 shares in the last quarter. FMR LLC lifted its position in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after purchasing an additional 43,942 shares in the last quarter. AQR Capital Management LLC increased its stake in 3M by 18.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock valued at $258,686,000 after buying an additional 396,773 shares during the last quarter. Finally, National Pension Service lifted its position in shares of 3M by 14.5% during the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after buying an additional 161,036 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MMM shares. UBS Group raised 3M from a “neutral” rating to a “buy” rating and upped their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Citigroup raised their target price on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday. Barclays boosted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Mizuho increased their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and an average target price of $148.87.

3M Stock Up 0.4 %

MMM stock opened at $149.64 on Friday. 3M has a twelve month low of $75.40 and a twelve month high of $152.08. The firm has a market capitalization of $81.49 billion, a PE ratio of 19.82, a PEG ratio of 2.42 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The stock has a 50-day simple moving average of $132.09 and a two-hundred day simple moving average of $128.67.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 97.19%. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter in the prior year, the firm posted $2.42 EPS. 3M’s revenue was down 25.0% on a year-over-year basis. On average, equities analysts predict that 3M will post 7.66 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is 37.09%.

About 3M

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.