Wilmington Savings Fund Society FSB Grows Position in 3M (NYSE:MMM)

Wilmington Savings Fund Society FSB increased its stake in 3M (NYSE:MMM - Free Report) by 255.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,978 shares of the conglomerate's stock after purchasing an additional 56,734 shares during the period. Wilmington Savings Fund Society FSB's holdings in 3M were worth $10,796,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MMM. 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 worth $252,000 after purchasing an additional 183 shares during the last quarter. Wedmont Private Capital purchased a new stake in 3M in the second quarter worth approximately $215,000. ORG Partners LLC purchased a new stake in 3M in the second quarter worth approximately $361,000. Envestnet Portfolio Solutions Inc. boosted its stake in 3M by 5.2% in the second 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 in the last quarter. Finally, Swedbank AB boosted its stake in 3M by 5.0% in the second quarter. Swedbank AB now owns 379,232 shares of the conglomerate's stock worth $38,754,000 after buying an additional 17,932 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 0.0 %

Shares of 3M stock traded down $0.03 during midday trading on Thursday, reaching $129.74. 2,915,325 shares of the company's stock traded hands, compared to its average volume of 4,698,773. 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 company has a market cap of $70.65 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.18 and a beta of 0.95. The stock has a 50 day moving average of $131.53 and a 200-day moving average of $121.92. 3M has a 12 month low of $75.40 and a 12 month high of $141.34.

3M (NYSE:MMM - Get Free Report) last posted 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. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm's quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share. As a group, equities analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.16%. 3M's payout ratio is presently 35.35%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho upped their target price 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 upped their target price on 3M from $99.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 23rd. Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a research note on Tuesday, October 22nd. Melius raised 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, UBS Group raised 3M from a "neutral" rating to a "buy" rating and increased their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.87.

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.