3M (NYSE:MMM) is Parsifal Capital Management LP's 7th Largest Position

Parsifal Capital Management LP lifted its holdings in 3M (NYSE:MMM - Free Report) by 179.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 820,094 shares of the conglomerate's stock after purchasing an additional 526,194 shares during the quarter. 3M accounts for about 7.7% of Parsifal Capital Management LP's investment portfolio, making the stock its 7th biggest holding. Parsifal Capital Management LP owned 0.15% of 3M worth $112,107,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of MMM. FSA Wealth Management LLC bought a new stake in shares of 3M in the third quarter worth $27,000. MFA Wealth Advisors LLC bought a new stake in 3M during the second quarter valued at about $28,000. Daymark Wealth Partners LLC grew its holdings in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. grew its holdings in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 121 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in 3M by 689.7% during the second 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 period. Institutional investors own 65.25% of the company's stock.

Analyst Ratings Changes

MMM has been the subject of several recent research reports. Melius raised 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. UBS Group raised 3M from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $144.87.

3M Stock Down 0.5 %

Shares of MMM traded down $0.70 during midday trading on Wednesday, hitting $130.45. 2,298,161 shares of the company's stock traded hands, compared to its average volume of 4,733,943. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The firm's fifty day moving average is $132.22 and its 200-day moving average is $120.81. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $71.04 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 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 analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business's revenue for the quarter was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.68 EPS. As a group, sell-side analysts anticipate that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

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