Entropy Technologies LP Decreases Position in 3M (NYSE:MMM)

Entropy Technologies LP decreased its stake in 3M (NYSE:MMM - Free Report) by 41.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,614 shares of the conglomerate's stock after selling 28,183 shares during the period. 3M makes up 0.6% of Entropy Technologies LP's portfolio, making the stock its 29th largest holding. Entropy Technologies LP's holdings in 3M were worth $5,415,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new position in shares of 3M in the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. boosted its holdings in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after acquiring an additional 121 shares in the last quarter. Meeder Asset Management Inc. grew its position in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after acquiring an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in 3M during the 2nd quarter valued at $33,000. 65.25% of the stock is currently owned by institutional investors.

3M Stock Down 2.0 %

NYSE MMM traded down $2.68 on Tuesday, hitting $130.32. 3,144,583 shares of the company were exchanged, compared to its average volume of 4,878,942. The stock has a fifty day moving average of $132.79 and a 200-day moving average of $117.13. The company has a market cap of $70.97 billion, a PE ratio of 16.79, a PEG ratio of 2.22 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 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.

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

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, November 15th. 3M's payout ratio is 35.35%.

Analyst Ratings Changes

Several brokerages recently issued reports on MMM. Morgan Stanley initiated coverage on shares of 3M in a research report on Friday, September 6th. They set an "underweight" rating and a $125.00 price target on the stock. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price target on 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. StockNews.com lowered 3M from a "buy" rating to a "hold" rating in a research report on Monday, July 29th. Finally, Citigroup boosted their target price on 3M from $100.00 to $133.00 and gave the company a "neutral" rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $139.27.

3M 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.