3,295 Shares of 3M Company $MMM Bought by M Holdings Securities Inc.

M Holdings Securities Inc. bought a new position in shares of 3M Company (NYSE:MMM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,295 shares of the conglomerate’s stock, valued at approximately $557,000.

Several other institutional investors also recently modified their holdings of MMM. State Street Corp increased its stake in shares of 3M by 0.4% in the 2nd quarter. State Street Corp now owns 27,828,966 shares of the conglomerate’s stock valued at $4,505,788,000 after acquiring an additional 105,222 shares during the last quarter. Amundi raised its position in shares of 3M by 67.0% in the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock valued at $734,448,000 after acquiring an additional 1,819,178 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 3M by 7.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock valued at $637,202,000 after acquiring an additional 270,458 shares during the period. National Pension Service boosted its stake in 3M by 3.6% during the 2nd quarter. National Pension Service now owns 1,401,543 shares of the conglomerate’s stock worth $226,924,000 after acquiring an additional 48,167 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in 3M by 1.2% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 376,784 shares of the conglomerate’s stock worth $61,849,000 after acquiring an additional 4,628 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MMM. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of 3M in a report on Wednesday, October 21st. Mizuho lifted their price target on shares of 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of 3M from $191.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, November 4th. Jefferies Financial Group restated a “hold” rating and issued a $186.00 price objective on shares of 3M in a research report on Wednesday, October 21st. Finally, Argus began coverage on 3M in a research note on Wednesday, November 4th. They set a “strong-buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and an average target price of $190.07.

3M Stock Performance

Shares of MMM opened at $189.58 on Wednesday. The firm has a market cap of $97.96 billion, a P/E ratio of 28.25, a PEG ratio of 2.46 and a beta of 1.01. 3M Company has a twelve month low of $139.34 and a twelve month high of $196.90. The company has a debt-to-equity ratio of 3.01, a quick ratio of 1.06 and a current ratio of 1.41. The firm’s 50 day moving average price is $169.60 and its two-hundred day moving average price is $162.10.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.12. 3M had a net margin of 14.01% and a return on equity of 123.11%. The company had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the prior year, the firm earned $2.19 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, analysts forecast that 3M Company will post 9.14 EPS for the current fiscal year.

3M announced that its board has initiated a stock buyback plan on Wednesday, November 4th that permits the company to buy back $6 billion in outstanding shares. This repurchase authorization permits the conglomerate to repurchase up to 6.6% of its stock through open market purchases. Share repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.12 dividend on an annualized basis and a yield of 1.6%. 3M’s dividend payout ratio is presently 46.50%.

About 3M

3M is a diversified science and manufacturing company that develops products for businesses and consumers. Its offerings include workplace safety equipment, adhesives and abrasives, filtration materials, automotive and electronics components, and home and office products such as Post-it Notes and Scotch brand tapes. Founded in 1902 as the Minnesota Mining and Manufacturing Company, 3M began as a mining venture before expanding into materials science and industrial manufacturing. The company adopted the name 3M in 2002 and is headquartered in St. Paul, Minnesota.