Geode Capital Management LLC boosted its holdings in shares of 3M (NYSE:MMM - Free Report) by 0.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,294,366 shares of the conglomerate's stock after acquiring an additional 6,767 shares during the period. Geode Capital Management LLC owned about 2.07% of 3M worth $1,540,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC boosted its position in 3M by 1.9% during the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate's stock valued at $571,000 after acquiring an additional 79 shares in the last quarter. Harbour Investments Inc. grew its stake in 3M by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate's stock worth $1,443,000 after buying an additional 81 shares during the last quarter. Fortis Capital Advisors LLC increased its position in 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate's stock valued at $307,000 after buying an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC grew its position in 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 purchasing an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. increased its stake in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate's stock valued at $884,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.
3M Trading Up 0.0 %
NYSE MMM traded up $0.01 during mid-day trading on Wednesday, hitting $129.78. The company's stock had a trading volume of 4,089,537 shares, compared to its average volume of 4,705,523. The firm has a market capitalization of $70.67 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.18 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 has a 52-week low of $75.40 and a 52-week high of $141.34. The stock's fifty day simple moving average is $131.64 and its two-hundred day simple moving average is $121.86.
3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm's quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 EPS. Research analysts expect that 3M will post 7.27 EPS for the current year.
3M Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Friday, November 15th. 3M's dividend payout ratio (DPR) is 35.35%.
Analysts Set New Price Targets
Several brokerages recently issued reports on MMM. Morgan Stanley started coverage on shares of 3M in a report on Friday, September 6th. They set an "underweight" rating and a $125.00 target price for the company. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and increased their target price for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Melius Research upgraded 3M from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. Barclays increased their target price on 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Mizuho increased their target price on 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $144.87.
Read Our Latest Report on 3M
3M Profile
(
Free Report)
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.
Featured Articles
Before you consider 3M, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and 3M wasn't on the list.
While 3M currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Unlock the timeless value of gold with our exclusive 2025 Gold Forecasting Report. Explore why gold remains the ultimate investment for safeguarding wealth against inflation, economic shifts, and global uncertainties. Whether you're planning for future generations or seeking a reliable asset in turbulent times, this report is your essential guide to making informed decisions.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.