1834 Investment Advisors Co. Has $1.35 Million Stake in 3M (NYSE:MMM)

1834 Investment Advisors Co. cut its stake in 3M (NYSE:MMM - Free Report) by 80.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,863 shares of the conglomerate's stock after selling 41,000 shares during the period. 1834 Investment Advisors Co.'s holdings in 3M were worth $1,348,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MMM. Catalina Capital Group LLC purchased a new stake in 3M during the third quarter valued at about $250,000. Hixon Zuercher LLC purchased a new stake in shares of 3M during the 3rd quarter worth about $246,000. QRG Capital Management Inc. increased its position in 3M by 1.4% during the 3rd quarter. QRG Capital Management Inc. now owns 14,319 shares of the conglomerate's stock worth $1,957,000 after purchasing an additional 199 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in 3M by 2.9% in the third quarter. Asset Management One Co. Ltd. now owns 351,828 shares of the conglomerate's stock valued at $48,095,000 after buying an additional 9,901 shares during the period. Finally, National Pension Service lifted its position in 3M by 14.5% during the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate's stock valued at $173,336,000 after buying an additional 161,036 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Barclays boosted their price target on 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a research report on Monday, October 7th. JPMorgan Chase & Co. raised their price target on 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Morgan Stanley initiated coverage on shares of 3M in a research report on Friday, September 6th. They issued an "underweight" rating and a $125.00 target price for the company. Finally, Argus raised shares of 3M from a "hold" rating to a "buy" rating and set a $145.00 price target for the company in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $139.27.

3M Stock Up 5.5 %

NYSE:MMM traded up $6.91 during mid-day trading on Wednesday, reaching $133.43. The stock had a trading volume of 3,115,327 shares, compared to its average volume of 4,895,322. The stock has a market cap of $72.66 billion, a P/E ratio of 15.98, a PEG ratio of 2.05 and a beta of 0.95. The business's 50 day moving average is $132.78 and its 200 day moving average is $115.97. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the firm earned $2.68 earnings per share. The business's revenue was down 24.3% on a year-over-year basis. As a group, sell-side analysts predict that 3M will post 7.28 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 2.10%. 3M's dividend payout ratio is currently 35.35%.

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.