DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Grows Holdings in 3M (NYSE:MMM)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of 3M (NYSE:MMM) by 513.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,929 shares of the conglomerate’s stock after acquiring an additional 107,073 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in 3M were worth $16,514,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MMM. Principal Financial Group Inc. grew its stake in shares of 3M by 15.3% in the 3rd quarter. Principal Financial Group Inc. now owns 737,075 shares of the conglomerate’s stock worth $100,758,000 after buying an additional 97,741 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of 3M by 4.2% in the fourth quarter. Nordea Investment Management AB now owns 60,109 shares of the conglomerate’s stock worth $7,783,000 after acquiring an additional 2,448 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of 3M by 19.1% during the fourth quarter. Fulton Bank N.A. now owns 11,240 shares of the conglomerate’s stock valued at $1,451,000 after acquiring an additional 1,800 shares in the last quarter. ORG Partners LLC raised its position in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Finally, HBW Advisory Services LLC boosted its stake in 3M by 1.5% in the 4th quarter. HBW Advisory Services LLC now owns 21,086 shares of the conglomerate’s stock worth $2,722,000 after purchasing an additional 312 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

NYSE MMM opened at $141.06 on Friday. The company has a 50-day moving average price of $141.38 and a 200-day moving average price of $138.47. 3M has a 52 week low of $95.90 and a 52 week high of $156.35. 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 $75.91 billion, a P/E ratio of 18.68, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MMM shares. Royal Bank of Canada lifted their target price on shares of 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, April 23rd. Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Bank of America boosted their price target on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

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.