M&T Bank Corp Has $38.01 Million Position in 3M (NYSE:MMM)

M&T Bank Corp decreased its holdings in 3M (NYSE:MMM - Free Report) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 278,032 shares of the conglomerate's stock after selling 10,684 shares during the quarter. M&T Bank Corp owned 0.05% of 3M worth $38,007,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MMM. CVA Family Office LLC raised its stake in 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate's stock valued at $571,000 after purchasing an additional 79 shares in the last quarter. Harbour Investments Inc. raised its position in shares of 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate's stock valued at $1,443,000 after buying an additional 81 shares in the last quarter. Fortis Capital Advisors LLC lifted its holdings in shares of 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate's stock worth $307,000 after acquiring an additional 84 shares during the period. KMG Fiduciary Partners LLC boosted its position in shares of 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate's stock worth $2,213,000 after acquiring an additional 84 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. increased its stake in 3M by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate's stock valued at $884,000 after acquiring an additional 84 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

3M Price Performance

Shares of MMM opened at $129.28 on Friday. The business has a 50-day moving average of $130.65 and a 200-day moving average of $123.19. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The company has a market capitalization of $70.40 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. 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 (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter last year, the business earned $2.68 EPS. The company's revenue was down 24.3% compared to the same quarter last year. As a group, equities research analysts anticipate that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. 3M's payout ratio is currently 35.35%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Melius upgraded 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped 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. Bank of America lifted their target price on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Mizuho increased their target price on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.87.

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.