Czech National Bank Boosts Stock Holdings in 3M (NYSE:MMM)

Czech National Bank grew its stake in shares of 3M (NYSE:MMM - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 118,072 shares of the conglomerate's stock after acquiring an additional 6,163 shares during the quarter. Czech National Bank's holdings in 3M were worth $15,242,000 as of its most recent SEC filing.

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

3M Stock Up 2.0 %

NYSE MMM traded up $2.75 on Tuesday, reaching $137.35. The company had a trading volume of 4,628,420 shares, compared to its average volume of 3,772,247. 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 stock has a market capitalization of $74.80 billion, a P/E ratio of 17.34, a P/E/G ratio of 2.15 and a beta of 0.95. The company's fifty day moving average is $130.90 and its 200 day moving average is $127.12. 3M has a 52-week low of $75.40 and a 52-week high of $141.34.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results 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 company 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 firm's revenue was down 24.3% on a year-over-year basis. During the same period last year, the firm earned $2.68 earnings per share. Sell-side analysts anticipate that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend payout ratio is currently 35.35%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Melius Research upgraded shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Bank of America boosted their target price on shares of 3M from $143.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Royal Bank of Canada decreased their price objective on 3M from $100.00 to $96.00 and set an "underperform" rating for the company in a report on Friday, January 3rd. Finally, Barclays cut their target price on 3M from $165.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $144.33.

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.