Entropy Technologies LP bought a new stake in shares of 3M Company (NYSE:MMM – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 75,362 shares of the conglomerate’s stock, valued at approximately $10,945,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of MMM. FSA Advisors Inc. purchased a new stake in shares of 3M in the fourth quarter worth about $1,625,000. PFA Pension Forsikringsaktieselskab purchased a new position in 3M during the 4th quarter valued at approximately $65,009,000. Catalyst Funds Management Pty Ltd increased its stake in 3M by 260.4% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 17,300 shares of the conglomerate’s stock worth $2,770,000 after acquiring an additional 12,500 shares during the last quarter. SG Americas Securities LLC increased its stake in 3M by 653.6% in the 1st quarter. SG Americas Securities LLC now owns 2,369,879 shares of the conglomerate’s stock worth $344,178,000 after acquiring an additional 2,055,419 shares during the last quarter. Finally, Brighton Jones LLC raised its holdings in shares of 3M by 26.6% during the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate’s stock worth $1,149,000 after acquiring an additional 1,872 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.
3M Price Performance
Shares of 3M stock opened at $172.44 on Friday. The stock has a market cap of $88.93 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 2.34 and a beta of 1.02. The company has a debt-to-equity ratio of 3.63, a quick ratio of 1.19 and a current ratio of 1.24. The stock has a 50 day moving average price of $158.49 and a 200-day moving average price of $156.42. 3M Company has a one year low of $139.34 and a one year high of $177.41.
3M Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 22nd were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $3.12 annualized dividend and a dividend yield of 1.8%. 3M’s dividend payout ratio is currently 55.42%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Sanford C. Bernstein increased their target price on 3M from $140.00 to $145.00 and gave the company an “underperform” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of 3M in a research note on Wednesday. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $178.00 to $180.00 in a research report on Friday, July 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of 3M from $123.00 to $132.00 and gave the stock an “underperform” rating in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, 3M has a consensus rating of “Hold” and a consensus price target of $177.21.
Check Out Our Latest Report on MMM
About 3M
3M Company, originally founded in 1902 as the Minnesota Mining and Manufacturing Company, is a diversified global technology and manufacturing firm headquartered in St. Paul, Minnesota. Over its history the company has expanded from mineral mining into a broad portfolio of industrial, safety, healthcare and consumer products, building a reputation for applied science and product innovation across many end markets.
3M’s businesses span a wide range of product categories including adhesives and tapes, abrasives, filtration and separation technologies, personal protective equipment such as respirators, medical and dental products, industrial and automotive solutions, and a suite of consumer brands (for example, well-known office and home products).
Featured Articles
- Five stocks we like better than 3M
- AMD and Cerbras Create A New Blueprint For Hardware
- Intel Earnings Reveal Whether the Chip Selloff Created a Buy
- CrowdStrike’s Cerebras Deal Puts Its AI Security Strategy to the Test
- Plugging In: How Kinder Morgan Powers Up Profits
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.
