B. Metzler seel. Sohn & Co. Holding AG Makes New $3.14 Million Investment in 3M (NYSE:MMM)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in 3M (NYSE:MMM - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 22,955 shares of the conglomerate's stock, valued at approximately $3,138,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. MFA Wealth Advisors LLC purchased a new position in shares of 3M in the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC grew its holdings in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. increased its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after purchasing an additional 121 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in shares of 3M in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MMM. Wells Fargo & Company raised their price target on 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Mizuho boosted their target price on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. StockNews.com cut shares of 3M from a "buy" rating to a "hold" rating in a report on Monday, July 29th. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Finally, Royal Bank of Canada raised their target price on 3M from $99.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.87.

3M Stock Performance

MMM opened at $127.83 on Thursday. The firm has a fifty day moving average price of $132.75 and a 200 day moving average price of $118.67. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The stock has a market cap of $69.61 billion, a P/E ratio of 16.14, a P/E/G ratio of 2.12 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 issued its quarterly earnings data 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. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The company's revenue was down 24.3% compared to the same quarter last year. 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 will be paid on Thursday, December 12th. Shareholders 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 2.19%. 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.