3M (NYSE:MMM) is Clifford Capital Partners LLC’s 8th Largest Position

Clifford Capital Partners LLC reduced its position in 3M (NYSE:MMM) by 23.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 131,229 shares of the conglomerate’s stock after selling 39,923 shares during the period. 3M accounts for approximately 3.6% of Clifford Capital Partners LLC’s investment portfolio, making the stock its 8th largest holding. Clifford Capital Partners LLC’s holdings in 3M were worth $17,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of MMM. FMR LLC boosted its position in 3M by 88.7% in the third 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 last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 purchased a new position in shares of 3M in the second quarter worth approximately $76,732,000. Jennison Associates LLC bought a new stake in 3M during the third quarter valued at approximately $82,208,000. Finally, Bank of New York Mellon Corp raised its position in 3M by 11.8% in the second 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 period. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MMM. Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Barclays lifted their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

3M Price Performance

Shares of 3M stock opened at $132.95 on Wednesday. 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 12 month low of $75.40 and a 12 month high of $141.34. The stock has a 50 day moving average of $132.46 and a 200 day moving average of $119.75. The firm has a market cap of $72.40 billion, a PE ratio of 16.79, a PEG ratio of 2.16 and a beta of 0.95.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. On average, research analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s payout ratio is 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.