1,800 Shares in 3M (NYSE:MMM) Purchased by Hixon Zuercher LLC

Hixon Zuercher LLC purchased a new position in shares of 3M (NYSE:MMM) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,800 shares of the conglomerate’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MMM. Capital World Investors acquired a new stake in 3M during the 1st quarter valued at $165,986,000. International Assets Investment Management LLC lifted its stake in shares of 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after buying an additional 1,250,491 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of 3M by 218.3% during the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after buying an additional 1,021,440 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of 3M by 1,015.6% during the 1st quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after buying an additional 808,914 shares during the period. Finally, Electron Capital Partners LLC acquired a new position in 3M in the 2nd quarter valued at about $76,732,000. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Wells Fargo & Company lifted their price target on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Mizuho lifted their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada increased 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. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $139.27.

3M Stock Up 0.5 %

NYSE MMM opened at $126.53 on Wednesday. The business has a fifty day moving average price of $132.78 and a two-hundred day moving average price of $115.97. The stock has a market capitalization of $68.90 billion, a PE ratio of 15.98, a PEG ratio of 2.05 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. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its quarterly earnings data 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. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the company earned $2.68 EPS. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. Equities analysts expect that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

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 paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. 3M’s payout ratio is currently 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.