18,375 Shares in 3M (NYSE:MMM) Purchased by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. purchased a new stake in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,375 shares of the conglomerate's stock, valued at approximately $2,372,000.

A number of other large investors also recently bought and sold shares of MMM. State Street Corp raised its holdings in 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock worth $3,717,503,000 after purchasing an additional 302,900 shares during the period. FMR LLC lifted its position in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate's stock valued at $1,225,087,000 after buying an additional 4,212,409 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of 3M by 2.0% in the second quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate's stock valued at $506,135,000 after purchasing an additional 97,340 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 3M by 1.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate's stock worth $521,596,000 after purchasing an additional 43,942 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of 3M by 18.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate's stock worth $258,686,000 after purchasing an additional 396,773 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MMM shares. Mizuho raised their target price on 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Bank of America increased their target price on shares of 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Finally, Barclays dropped their price objective on shares of 3M from $165.00 to $161.00 and set an "overweight" rating for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $144.33.

3M Trading Up 2.0 %

MMM stock traded up $2.75 during midday trading on Tuesday, hitting $137.35. 4,628,420 shares of the company's stock were exchanged, compared to its average volume of 3,772,247. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. 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 $74.80 billion, a PE ratio of 17.34, a P/E/G ratio of 2.15 and a beta of 0.95. The business has a 50-day simple moving average of $130.69 and a two-hundred day simple moving average of $126.87.

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

3M Dividend Announcement

The business 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. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. 3M's payout ratio is currently 35.35%.

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.