GSA Capital Partners LLP Has $3.10 Million Stock Position in 3M (NYSE:MMM)

GSA Capital Partners LLP grew its stake in 3M (NYSE:MMM - Free Report) by 550.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,691 shares of the conglomerate's stock after acquiring an additional 19,202 shares during the quarter. GSA Capital Partners LLP's holdings in 3M were worth $3,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MMM. McClarren Financial Advisors Inc. boosted its stake in 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 buying an additional 121 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of 3M in the 2nd quarter worth about $28,000. Meeder Asset Management Inc. raised its holdings in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after purchasing an additional 269 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of 3M in the 2nd quarter worth about $33,000. Finally, Gradient Investments LLC raised its holdings in shares of 3M by 44.7% in the 2nd quarter. Gradient Investments LLC now owns 356 shares of the conglomerate's stock worth $36,000 after purchasing an additional 110 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research reports. Citigroup raised their price objective on 3M from $100.00 to $133.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Bank of America raised their target price on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Mizuho raised 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. Melius upgraded 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their target price on 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $139.27.

3M Stock Performance

3M stock traded down $2.68 during trading hours on Tuesday, hitting $130.32. The stock had a trading volume of 3,144,583 shares, compared to its average volume of 4,878,942. The company has a 50-day moving average of $132.79 and a two-hundred day moving average of $117.13. 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 company has a market cap of $70.97 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the company posted $2.68 EPS. The company's revenue was down 24.3% compared to the same quarter last year. On average, equities research analysts anticipate that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 2.15%. 3M's dividend payout ratio (DPR) is presently 35.35%.

About 3M

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.