3M (NYSE:MMM) Position Increased by Bontempo Ohly Capital Mgmt LLC

Bontempo Ohly Capital Mgmt LLC raised its holdings in shares of 3M (NYSE:MMM) by 2.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 24,229 shares of the conglomerate’s stock after purchasing an additional 549 shares during the quarter. 3M accounts for about 1.5% of Bontempo Ohly Capital Mgmt LLC’s portfolio, making the stock its 22nd largest holding. Bontempo Ohly Capital Mgmt LLC’s holdings in 3M were worth $3,312,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in 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 purchasing an additional 4,212,409 shares during the period. International Assets Investment Management LLC boosted its stake in 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares during the period. Electron Capital Partners LLC acquired a new position in 3M in the 2nd quarter worth approximately $76,732,000. Jennison Associates LLC acquired a new position in 3M in the 3rd quarter worth approximately $82,208,000. Finally, Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 533,520 shares during the period. 65.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MMM. Mizuho raised their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and increased their target price for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Finally, Barclays increased their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, 3M has an average rating of “Moderate Buy” and an average target price of $144.87.

3M Stock Down 0.2 %

3M stock opened at $133.11 on Friday. The company has a market capitalization of $72.49 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.16 and a beta of 0.95. The firm’s fifty day simple moving average is $131.89 and its 200-day simple moving average is $121.29. 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 1-year low of $75.40 and a 1-year high of $141.34.

3M (NYSE:MMM) last announced 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 for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 EPS. Sell-side analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.10%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

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.