Capital Performance Advisors LLP Takes Position in 3M (NYSE:MMM)

Capital Performance Advisors LLP purchased a new position in 3M (NYSE:MMM) during the third quarter, Holdings Channel.com reports. The firm purchased 1,360 shares of the conglomerate’s stock, valued at approximately $186,000.

Other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in 3M in the 1st quarter worth approximately $937,000. Geneos Wealth Management Inc. boosted its position in shares of 3M by 2.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock worth $562,000 after buying an additional 105 shares during the period. Empirical Finance LLC grew its holdings in shares of 3M by 3.5% during the first quarter. Empirical Finance LLC now owns 20,113 shares of the conglomerate’s stock valued at $2,133,000 after buying an additional 675 shares in the last quarter. LSV Asset Management raised its position in 3M by 25.3% during the first quarter. LSV Asset Management now owns 12,400 shares of the conglomerate’s stock valued at $1,315,000 after buying an additional 2,500 shares during the period. Finally, AIA Group Ltd raised its position in 3M by 766.5% during the first quarter. AIA Group Ltd now owns 19,506 shares of the conglomerate’s stock valued at $2,069,000 after buying an additional 17,255 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

NYSE:MMM traded up $0.94 during trading hours on Friday, hitting $134.01. 1,043,191 shares of the company traded hands, compared to its average volume of 4,880,091. The firm has a 50-day moving average of $132.83 and a 200 day moving average of $116.09. The stock has a market capitalization of $72.98 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 2.03 and a beta of 0.95. 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 has a twelve month low of $75.40 and a twelve month high of $141.34.

3M (NYSE:MMM) 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. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period last year, the business earned $2.68 earnings per share. On average, analysts forecast that 3M will post 7.28 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, November 15th. 3M’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MMM shares. JPMorgan Chase & Co. lifted their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, October 23rd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Finally, Bank of America upped their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $139.27.

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.