Diversified Trust Co Has $5.12 Million Stock Position in 3M (NYSE:MMM)

Diversified Trust Co grew its stake in shares of 3M (NYSE:MMM) by 161.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,297 shares of the conglomerate’s stock after purchasing an additional 29,810 shares during the quarter. Diversified Trust Co’s holdings in 3M were worth $5,123,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. increased its position in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of 3M during the 1st quarter worth approximately $32,000. Livelsberger Financial Advisory bought a new position in shares of 3M during the 4th quarter worth approximately $35,000. CGC Financial Services LLC boosted its stake in shares of 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after acquiring an additional 160 shares during the period. Finally, Cape Investment Advisory Inc. boosted its stake in shares of 3M by 42.8% during the 4th quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE:MMM traded down $1.75 during trading on Monday, reaching $100.44. 903,827 shares of the company traded hands, compared to its average volume of 5,491,273. The company’s 50 day moving average is $99.23 and its two-hundred day moving average is $99.22. The firm has a market capitalization of $55.58 billion, a PE ratio of -7.90, a PEG ratio of 1.90 and a beta of 0.95. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. 3M has a 52 week low of $71.12 and a 52 week high of $106.04.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same period in the prior year, the company posted $1.97 EPS. As a group, sell-side analysts predict that 3M will post 7.17 earnings per share for the current year.

3M Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.79%. 3M’s dividend payout ratio (DPR) is currently -22.01%.

Analyst Ratings Changes

Several research analysts have recently commented on MMM shares. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Wolfe Research upgraded 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a research note on Thursday, June 13th. UBS Group lifted their target price on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Barclays lifted their target price on 3M from $112.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 28th. Finally, Royal Bank of Canada lifted their target price on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, 3M has a consensus rating of “Hold” and an average target price of $111.58.

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.