Tidal Investments LLC Has $9.94 Million Stock Holdings in 3M (NYSE:MMM)

Tidal Investments LLC increased its holdings in shares of 3M (NYSE:MMM - Free Report) by 44.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 72,733 shares of the conglomerate's stock after purchasing an additional 22,461 shares during the quarter. Tidal Investments LLC's holdings in 3M were worth $9,943,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB increased its position in shares of 3M by 255.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate's stock valued at $10,796,000 after acquiring an additional 56,734 shares during the last quarter. World Investment Advisors LLC increased its holdings in 3M by 22.4% during the third quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate's stock worth $1,609,000 after buying an additional 2,155 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in 3M by 25.2% in the third quarter. Sanctuary Advisors LLC now owns 65,547 shares of the conglomerate's stock valued at $8,417,000 after acquiring an additional 13,193 shares during the last quarter. Tudor Financial Inc. acquired a new position in shares of 3M during the 3rd quarter worth about $259,000. Finally, Virtue Capital Management LLC raised its holdings in shares of 3M by 216.8% in the 3rd quarter. Virtue Capital Management LLC now owns 7,996 shares of the conglomerate's stock valued at $1,093,000 after purchasing an additional 5,472 shares during the period. Institutional investors own 65.25% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Royal Bank of Canada raised their target price on shares of 3M from $99.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 23rd. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $144.87.

3M Price Performance

NYSE MMM traded down $0.24 on Friday, hitting $129.51. 1,193,034 shares of the company's stock were exchanged, compared to its average volume of 4,683,913. The stock has a 50-day moving average of $131.43 and a 200-day moving average of $121.97. The stock has a market cap of $70.53 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 2.15 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week 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.

3M (NYSE:MMM - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $2.68 earnings per share. The business's quarterly revenue was down 24.3% on a year-over-year basis. Analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend 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.