3M (NYSE:MMM) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in 3M (NYSE:MMM) by 2.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,584 shares of the conglomerate’s stock after purchasing an additional 502 shares during the quarter. Vinva Investment Management Ltd’s holdings in 3M were worth $2,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in 3M by 10.3% in the third quarter. Public Sector Pension Investment Board now owns 23,580 shares of the conglomerate’s stock valued at $3,223,000 after buying an additional 2,200 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after buying an additional 43,942 shares during the last quarter. True Vision MN LLC lifted its stake in 3M by 11.0% in the third quarter. True Vision MN LLC now owns 5,567 shares of the conglomerate’s stock valued at $761,000 after buying an additional 552 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in 3M by 52.2% in the third quarter. CreativeOne Wealth LLC now owns 13,433 shares of the conglomerate’s stock valued at $1,836,000 after buying an additional 4,605 shares during the last quarter. Finally, Blueshift Asset Management LLC lifted its stake in 3M by 254.4% in the third quarter. Blueshift Asset Management LLC now owns 7,956 shares of the conglomerate’s stock valued at $1,088,000 after buying an additional 5,711 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Down 0.4 %

3M stock opened at $132.48 on Friday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The firm has a market capitalization of $72.14 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 2.19 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The stock’s fifty day moving average is $132.42 and its two-hundred day moving average is $119.92.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 earnings per share. Analysts predict that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, November 15th. 3M’s payout ratio is currently 35.35%.

Analysts Set New Price Targets

MMM has been the subject of a number of research reports. Bank of America boosted their price objective on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada boosted their price objective on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. Barclays upped their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.87.

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.