All Terrain Financial Advisors LLC Trims Stock Holdings in 3M (NYSE:MMM)

All Terrain Financial Advisors LLC cut its stake in shares of 3M (NYSE:MMM) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,971 shares of the conglomerate’s stock after selling 130 shares during the quarter. All Terrain Financial Advisors LLC’s holdings in 3M were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in shares of 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 3M by 11.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock worth $517,617,000 after acquiring an additional 533,520 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of 3M by 2.0% in the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock worth $506,135,000 after acquiring an additional 97,340 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of 3M by 18.6% in the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after buying an additional 396,773 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of 3M by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,940,202 shares of the conglomerate’s stock worth $198,298,000 after buying an additional 11,315 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Price Performance

Shares of NYSE:MMM remained flat at $130.32 during midday trading on Tuesday. 165,239 shares of the stock were exchanged, compared to its average volume of 4,772,431. The business has a 50-day moving average of $132.48 and a 200 day moving average of $119.51. The stock has a market capitalization of $70.97 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 2.12 and a beta of 0.95. 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 has a 12-month low of $75.40 and a 12-month high of $141.34.

3M (NYSE:MMM) last announced its quarterly earnings results 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 company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.68 EPS. On average, research analysts predict that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 yield of 2.15%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

MMM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Bank of America lifted their target price on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, July 30th. Finally, Citigroup boosted their price objective on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.