Quantinno Capital Management LP Has $4.75 Million Stock Holdings in 3M (NYSE:MMM)

Quantinno Capital Management LP increased its stake in shares of 3M (NYSE:MMM - Free Report) by 27.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,725 shares of the conglomerate's stock after acquiring an additional 7,456 shares during the period. Quantinno Capital Management LP's holdings in 3M were worth $4,747,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. FSA Wealth Management LLC acquired a new stake in shares of 3M in the 3rd quarter valued at approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in 3M in the second quarter valued at $28,000. Daymark Wealth Partners LLC grew its position in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock valued at $30,000 after acquiring an additional 17,211 shares during the period. McClarren Financial Advisors Inc. increased its stake in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock worth $30,000 after purchasing an additional 121 shares during the last quarter. Finally, 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 valued at $31,000 after purchasing an additional 269 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Price Performance

NYSE:MMM traded down $0.22 during trading hours on Friday, hitting $133.11. The company's stock had a trading volume of 1,912,419 shares, compared to its average volume of 2,688,348. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The company has a market capitalization of $72.49 billion, a P/E ratio of 16.81, a PEG ratio of 2.16 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The stock has a fifty day simple moving average of $131.89 and a 200-day simple moving average of $121.29.

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. 3M had a net margin of 15.37% and a return on equity of 104.66%. 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 previous year, the firm posted $2.68 EPS. The firm's revenue was down 24.3% on a year-over-year basis. On average, 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. Stockholders of record on Friday, November 15th will be issued 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 dividend yield of 2.10%. 3M's dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America lifted their price target on 3M from $143.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Morgan Stanley began coverage on 3M in a research note on Friday, September 6th. They issued an "underweight" rating and a $125.00 price target on the stock. UBS Group upgraded shares of 3M from a "neutral" rating to a "buy" rating and upped their price objective for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius upgraded 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.87.

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.