3M (NYSE:MMM) Shares Bought by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC increased its stake in 3M (NYSE:MMM) by 9.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,367 shares of the conglomerate’s stock after purchasing an additional 120 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in 3M were worth $145,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in 3M in the 4th quarter valued at approximately $502,585,000. Pacer Advisors Inc. raised its stake in shares of 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after purchasing an additional 3,508,334 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of 3M by 313.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,650,961 shares of the conglomerate’s stock worth $289,803,000 after acquiring an additional 2,010,319 shares during the period. Los Angeles Capital Management LLC lifted its stake in 3M by 157.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock worth $197,377,000 after purchasing an additional 1,103,459 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in 3M by 8,766.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock valued at $118,168,000 after purchasing an additional 1,068,748 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. 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 report on Thursday, June 13th. Bank of America raised shares of 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $105.00 to $120.00 in a report on Friday, June 7th. Barclays lifted their price target on shares of 3M from $112.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. UBS Group upped their price objective on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Mizuho reiterated a “neutral” rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.58.

3M Stock Up 1.0 %

Shares of NYSE MMM opened at $101.62 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. The firm has a market capitalization of $56.23 billion, a PE ratio of -7.99, a price-to-earnings-growth ratio of 1.90 and a beta of 0.95. The firm’s 50-day moving average is $99.39 and its 200-day moving average is $99.18. 3M has a 1 year low of $71.12 and a 1 year high of $106.04.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the previous year, the business earned $1.97 EPS. Equities analysts expect that 3M will post 7.17 EPS for the current year.

3M Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.76%. The ex-dividend date was Thursday, May 23rd. 3M’s payout ratio is -22.01%.

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.