3M (NYSE:MMM) Shares Acquired by Meyer Handelman Co.

Meyer Handelman Co. lifted its holdings in 3M (NYSE:MMM - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,618 shares of the conglomerate's stock after buying an additional 2,678 shares during the quarter. Meyer Handelman Co.'s holdings in 3M were worth $25,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMM. D.A. Davidson & CO. lifted its position in shares of 3M by 16.2% during the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate's stock worth $20,004,000 after purchasing an additional 20,421 shares during the last quarter. Franklin Resources Inc. lifted its holdings in 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock valued at $114,770,000 after buying an additional 178,450 shares in the last quarter. Ballentine Partners LLC boosted its position in 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate's stock valued at $2,490,000 after buying an additional 5,210 shares during the period. Stonegate Investment Group LLC grew its stake in 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate's stock worth $34,564,000 after acquiring an additional 13,473 shares in the last quarter. Finally, True Vision MN LLC purchased a new position in shares of 3M during the second quarter worth approximately $512,000. 65.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on 3M from $100.00 to $96.00 and set an "underperform" rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price target on 3M from $165.00 to $162.00 and set an "overweight" rating on the stock in a research report on Wednesday. Melius upgraded 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Barclays dropped their target price on shares of 3M from $165.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, Bank of America upped their price target on shares of 3M from $143.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, 3M currently has an average rating of "Moderate Buy" and an average price target of $144.13.

3M Stock Up 0.6 %

Shares of 3M stock traded up $0.86 during trading on Wednesday, reaching $138.07. The company's stock had a trading volume of 2,933,336 shares, compared to its average volume of 3,610,671. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The company has a 50-day simple moving average of $130.90 and a two-hundred day simple moving average of $127.12. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The company has a market cap of $75.19 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company's revenue was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 earnings per share. As a group, equities analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.03%. 3M's dividend payout ratio is currently 35.35%.

About 3M

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.