XTX Topco Ltd reduced its stake in 3M (NYSE:MMM - Free Report) by 78.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,471 shares of the conglomerate's stock after selling 31,266 shares during the quarter. XTX Topco Ltd's holdings in 3M were worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in 3M in the 3rd quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new stake in 3M during the 2nd quarter valued at $28,000. Daymark Wealth Partners LLC raised its stake in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock valued at $30,000 after buying an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after buying an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after buying an additional 269 shares during the last quarter. 65.25% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
MMM has been the subject of a number of recent research reports. Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Barclays upped their target price on shares of 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada upped their target price on shares of 3M from $99.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, 3M currently has an average rating of "Moderate Buy" and a consensus target price of $144.87.
View Our Latest Analysis on MMM
3M Stock Performance
Shares of MMM traded down $1.72 during trading hours on Tuesday, reaching $129.77. 3,225,725 shares of the company traded hands, compared to its average volume of 4,708,823. The stock has a market capitalization of $70.67 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.20 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. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The business has a fifty day moving average price of $131.78 and a 200-day moving average price of $121.65.
3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business's quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.68 earnings per share. Equities analysts anticipate that 3M will post 7.27 EPS for the current fiscal year.
3M Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. 3M's dividend payout ratio is presently 35.35%.
3M Profile
(
Free Report)
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.
Featured Articles
Before you consider 3M, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 3M wasn't on the list.
While 3M currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
