Acropolis Investment Management LLC Lowers Stake in 3M (NYSE:MMM)

Acropolis Investment Management LLC decreased its position in 3M (NYSE:MMM) by 26.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,892 shares of the conglomerate’s stock after selling 2,517 shares during the quarter. Acropolis Investment Management LLC’s holdings in 3M were worth $890,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in 3M by 88.7% in the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Electron Capital Partners LLC purchased a new stake in 3M during the 2nd quarter worth approximately $76,732,000. Jennison Associates LLC acquired a new stake in 3M during the 3rd quarter worth approximately $82,208,000. Finally, Parsifal Capital Management LP boosted its position in 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock valued at $112,107,000 after buying an additional 526,194 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

Shares of MMM opened at $137.35 on Wednesday. The firm has a fifty day moving average price of $130.90 and a 200 day moving average price of $127.12. The stock has a market cap of $74.80 billion, a PE ratio of 17.34, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The business 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 business’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 EPS. As a group, sell-side analysts anticipate that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.04%. 3M’s payout ratio is 35.35%.

Analysts Set New Price Targets

Several analysts have recently issued reports on MMM shares. Wells Fargo & Company increased their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. UBS Group raised 3M from a “neutral” rating to a “buy” rating and increased their price target for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays reduced their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, 3M currently has an average rating of “Moderate Buy” and a consensus price target of $144.33.

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.