Toronto Dominion Bank Purchases 15,112 Shares of 3M (NYSE:MMM)

Toronto Dominion Bank increased its stake in 3M (NYSE:MMM - Free Report) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 274,976 shares of the conglomerate's stock after acquiring an additional 15,112 shares during the period. Toronto Dominion Bank owned about 0.05% of 3M worth $37,589,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Lantz Financial LLC increased its position in shares of 3M by 8.0% in the second quarter. Lantz Financial LLC now owns 2,469 shares of the conglomerate's stock valued at $252,000 after acquiring an additional 183 shares during the period. Wedmont Private Capital purchased a new position in 3M during the 2nd quarter valued at about $215,000. ORG Partners LLC purchased a new stake in 3M in the 2nd quarter worth approximately $361,000. Envestnet Portfolio Solutions Inc. grew its position in shares of 3M by 5.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 62,512 shares of the conglomerate's stock worth $6,388,000 after buying an additional 3,099 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of 3M by 5.0% during the second quarter. Swedbank AB now owns 379,232 shares of the conglomerate's stock valued at $38,754,000 after buying an additional 17,932 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Stock Down 0.0 %

3M stock traded down $0.03 during trading hours on Thursday, hitting $129.74. The stock had a trading volume of 2,915,325 shares, compared to its average volume of 4,698,773. The stock's 50-day moving average price is $131.53 and its 200-day moving average price is $121.92. The stock has a market capitalization of $70.65 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.18 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share 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 company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period in the previous year, the business earned $2.68 EPS. The firm's revenue for the quarter was down 24.3% on a year-over-year basis. Equities research analysts anticipate that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on MMM shares. Mizuho raised their price target on 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. 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 report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a research report on Monday, October 28th. Barclays raised their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley assumed coverage on 3M in a research report on Friday, September 6th. They set an "underweight" rating and a $125.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $144.87.

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.