3M (NYSE:MMM) Shares Purchased by Radnor Capital Management LLC

Radnor Capital Management LLC grew its holdings in shares of 3M (NYSE:MMM - Free Report) by 21.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,585 shares of the conglomerate's stock after purchasing an additional 7,625 shares during the period. 3M makes up about 0.9% of Radnor Capital Management LLC's holdings, making the stock its 18th biggest position. Radnor Capital Management LLC's holdings in 3M were worth $5,958,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Capital World Investors acquired a new position in shares of 3M during the 1st quarter worth $165,986,000. International Assets Investment Management LLC lifted its position in shares of 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate's stock valued at $172,416,000 after acquiring an additional 1,250,491 shares during the period. National Bank of Canada FI boosted its stake in shares of 3M by 218.3% during the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate's stock worth $147,344,000 after acquiring an additional 1,021,440 shares in the last quarter. Janus Henderson Group PLC increased its stake in 3M by 1,015.6% in the 1st quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate's stock valued at $94,247,000 after purchasing an additional 808,914 shares in the last quarter. Finally, Electron Capital Partners LLC acquired a new position in 3M during the second quarter worth $76,732,000. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Up 5.8 %

3M stock traded up $7.31 during midday trading on Wednesday, hitting $133.83. 3,317,383 shares of the company were exchanged, compared to its average volume of 4,896,261. The company has a market cap of $72.88 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 2.05 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. The company's fifty day moving average price is $132.78 and its 200-day moving average price is $115.97. 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 (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the business posted $2.68 EPS. The firm's revenue was down 24.3% compared to the same quarter last year. On average, research analysts predict that 3M will post 7.28 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 dividend yield of 2.09%. 3M's dividend payout ratio (DPR) is currently 35.35%.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of research analyst reports. Bank of America raised their price target on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Argus upgraded shares of 3M from a "hold" rating to a "buy" rating and set a $145.00 price target on the stock in a research report on Tuesday, July 30th. Citigroup lifted their price objective on 3M from $100.00 to $133.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. Melius raised 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $139.27.

3M Company 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.