18,183 Shares in 3M (NYSE:MMM) Acquired by Collar Capital Management LLC

Collar Capital Management LLC bought a new stake in 3M (NYSE:MMM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,183 shares of the conglomerate’s stock, valued at approximately $2,347,000. 3M accounts for approximately 2.0% of Collar Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in 3M during the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M in the fourth quarter valued at $26,000. Hazlett Burt & Watson Inc. purchased a new position in 3M in the fourth quarter valued at $27,000. Daymark Wealth Partners LLC grew its stake in 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 214 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Down 1.9 %

Shares of 3M stock opened at $138.15 on Wednesday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a market capitalization of $74.35 billion, a P/E ratio of 18.30, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 1 year low of $95.01 and a 1 year high of $156.35. The company’s fifty day moving average is $141.95 and its two-hundred day moving average is $138.42.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Analysts forecast that 3M will post 7.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MMM shares. JPMorgan Chase & Co. lowered their price objective on 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a report on Thursday, April 24th. Barclays lifted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

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.