Metis Global Partners LLC Purchases 137 Shares of 3M (NYSE:MMM)

Metis Global Partners LLC lifted its position in shares of 3M (NYSE:MMM) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,811 shares of the conglomerate’s stock after acquiring an additional 137 shares during the quarter. Metis Global Partners LLC’s holdings in 3M were worth $3,528,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in 3M by 13.2% in the 1st quarter. Sei Investments Co. now owns 154,810 shares of the conglomerate’s stock worth $16,420,000 after buying an additional 18,054 shares during the period. M&G Plc purchased a new position in shares of 3M in the first quarter valued at $15,855,000. Poehling Capital Management INC. raised its stake in shares of 3M by 6.6% during the 1st quarter. Poehling Capital Management INC. now owns 69,623 shares of the conglomerate’s stock valued at $7,385,000 after purchasing an additional 4,330 shares during the period. Mizuho Markets Americas LLC lifted its holdings in 3M by 119.3% during the 1st quarter. Mizuho Markets Americas LLC now owns 110,041 shares of the conglomerate’s stock worth $11,672,000 after purchasing an additional 59,854 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in 3M by 3.1% during the 1st quarter. Intech Investment Management LLC now owns 29,553 shares of the conglomerate’s stock valued at $3,135,000 after buying an additional 875 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

MMM has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Morgan Stanley started coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price on the stock. Bank of America boosted their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. 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 data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average price target of $144.87.

3M Stock Up 0.7 %

Shares of NYSE:MMM opened at $132.32 on Friday. The stock’s 50-day moving average is $132.76 and its 200 day moving average is $117.50. The company has a market cap of $72.06 billion, a PE ratio of 16.71, a P/E/G ratio of 2.17 and a beta of 0.95. 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 has a 1 year low of $75.40 and a 1 year high of $141.34.

3M (NYSE:MMM) last announced 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 company 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 firm’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. Sell-side analysts anticipate that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.12%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

About 3M

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.