Raiffeisen Bank International AG Makes New $2.26 Million Investment in 3M (NYSE:MMM)

Raiffeisen Bank International AG acquired a new position in 3M (NYSE:MMM) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,490 shares of the conglomerate’s stock, valued at approximately $2,258,000.

Several other large investors have also recently bought and sold shares of MMM. Point72 Asia Singapore Pte. Ltd. increased its position in shares of 3M by 97.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,652 shares of the conglomerate’s stock valued at $1,762,000 after buying an additional 6,752 shares in the last quarter. ProShare Advisors LLC increased its position in shares of 3M by 34.0% in the fourth quarter. ProShare Advisors LLC now owns 227,581 shares of the conglomerate’s stock valued at $29,378,000 after buying an additional 57,752 shares in the last quarter. Quantinno Capital Management LP increased its position in shares of 3M by 45.2% in the fourth quarter. Quantinno Capital Management LP now owns 50,412 shares of the conglomerate’s stock valued at $6,508,000 after buying an additional 15,687 shares in the last quarter. Paradoxiom Capital L.P. purchased a new position in shares of 3M in the fourth quarter valued at $7,956,000. Finally, Mufg Securities Americas Inc. purchased a new position in shares of 3M in the fourth quarter valued at $1,038,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on MMM shares. Barclays raised their price target on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada raised their price target on 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price objective on 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Citigroup dropped their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $149.29.

3M Stock Up 0.8%

Shares of NYSE:MMM opened at $148.99 on Friday. The stock’s 50-day moving average price is $141.49 and its two-hundred day moving average price is $139.15. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. 3M has a 12-month low of $96.76 and a 12-month high of $156.35. The firm has a market cap of $80.18 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 3.30 and a beta of 1.02.

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

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. 3M’s dividend payout ratio is currently 36.87%.

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.