Victrix Investment Advisors Purchases New Shares in 3M (NYSE:MMM)

Victrix Investment Advisors acquired a new stake in 3M (NYSE:MMM) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 28,940 shares of the conglomerate’s stock, valued at approximately $3,736,000. 3M comprises 2.7% of Victrix Investment Advisors’ investment portfolio, making the stock its 11th largest position.

Several other large investors have also recently modified their holdings of MMM. St. Clair Advisors LLC bought a new stake in 3M in the fourth quarter worth $655,000. Tidal Investments LLC lifted its stake in 3M by 233.2% during the 4th quarter. Tidal Investments LLC now owns 242,335 shares of the conglomerate’s stock valued at $31,283,000 after acquiring an additional 169,602 shares during the period. TrinityPoint Wealth LLC grew its position in 3M by 2.2% during the fourth quarter. TrinityPoint Wealth LLC now owns 15,411 shares of the conglomerate’s stock valued at $1,989,000 after buying an additional 337 shares during the period. True Wealth Design LLC lifted its position in shares of 3M by 45.8% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the conglomerate’s stock valued at $58,000 after buying an additional 141 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in 3M by 0.7% in the 4th quarter. Toronto Dominion Bank now owns 276,937 shares of the conglomerate’s stock worth $35,749,000 after buying an additional 1,961 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 2.9%

Shares of NYSE:MMM opened at $153.11 on Monday. The firm has a fifty day moving average of $141.60 and a two-hundred day moving average of $139.47. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $96.76 and a 12-month high of $156.35. The firm has a market capitalization of $82.40 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02.

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

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.91%. 3M’s payout ratio is presently 36.87%.

Analyst Upgrades and Downgrades

MMM has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on 3M from $140.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup cut their target price on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Barclays lifted their price objective on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Saturday, May 10th. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and a consensus target price of $152.08.

3M 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.