3M (NYSE:MMM) Stock Holdings Increased by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its holdings in 3M (NYSE:MMM - Free Report) by 25.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 65,547 shares of the conglomerate's stock after acquiring an additional 13,193 shares during the period. Sanctuary Advisors LLC's holdings in 3M were worth $8,417,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CVA Family Office LLC boosted its stake in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate's stock worth $571,000 after buying an additional 79 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate's stock worth $1,443,000 after acquiring an additional 81 shares during the last quarter. Fortis Capital Advisors LLC grew its holdings in 3M by 2.9% in the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate's stock valued at $307,000 after purchasing an additional 84 shares during the period. KMG Fiduciary Partners LLC grew its holdings in 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate's stock valued at $2,213,000 after purchasing an additional 84 shares during the period. Finally, TCV Trust & Wealth Management Inc. raised its stake in 3M by 1.3% during the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate's stock worth $884,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 65.25% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Morgan Stanley assumed coverage on 3M in a report on Friday, September 6th. They set an "underweight" rating and a $125.00 target price for the company. Royal Bank of Canada lifted their price target on shares of 3M from $99.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $144.87.

3M Stock Up 0.1 %

Shares of MMM stock traded up $0.17 during mid-day trading on Friday, reaching $129.92. 2,382,080 shares of the company were exchanged, compared to its average volume of 4,689,160. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The business's 50 day simple moving average is $131.32 and its 200 day simple moving average is $122.35. The company has a market capitalization of $70.75 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.15 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 earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company's revenue was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 EPS. Research analysts predict that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, November 15th. 3M's dividend payout ratio is presently 35.35%.

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.