3M (NYSE:MMM) Stake Lifted by Stonehage Fleming Financial Services Holdings Ltd

Stonehage Fleming Financial Services Holdings Ltd increased its position in shares of 3M (NYSE:MMMFree Report) by 3,347.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,965 shares of the conglomerate’s stock after purchasing an additional 3,850 shares during the period. Stonehage Fleming Financial Services Holdings Ltd’s holdings in 3M were worth $512,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MMM. D.A. Davidson & CO. raised its stake in shares of 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after buying an additional 20,421 shares in the last quarter. Franklin Resources Inc. raised its position in 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after acquiring an additional 178,450 shares in the last quarter. Meyer Handelman Co. lifted its holdings in 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after acquiring an additional 2,678 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its stake in shares of 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after purchasing an additional 13,473 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 target price on shares of 3M in a report on Wednesday, January 22nd. Barclays upped their target price on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

View Our Latest Stock Report on MMM

3M Trading Down 0.0 %

Shares of NYSE:MMM opened at $149.61 on Monday. 3M has a 12-month low of $75.40 and a 12-month high of $152.08. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $81.47 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The firm has a fifty day moving average of $132.83 and a two-hundred day moving average of $129.36.

3M (NYSE:MMMGet Free Report) last issued its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business’s revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 EPS. On average, equities analysts expect that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is 37.09%.

3M Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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