Capital Performance Advisors LLP Invests $186,000 in 3M (NYSE:MMM)

Capital Performance Advisors LLP bought a new position in shares of 3M (NYSE:MMM) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 1,360 shares of the conglomerate’s stock, valued at approximately $186,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMM. Capital World Investors purchased a new position in 3M in the first quarter valued at about $165,986,000. International Assets Investment Management LLC lifted its position in 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after acquiring an additional 1,250,491 shares in the last quarter. National Bank of Canada FI boosted its holdings in 3M by 218.3% in the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after acquiring an additional 1,021,440 shares during the period. Janus Henderson Group PLC raised its stake in shares of 3M by 1,015.6% during the first quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock valued at $94,247,000 after purchasing an additional 808,914 shares during the period. Finally, Electron Capital Partners LLC acquired a new position in shares of 3M during the second quarter worth $76,732,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

MMM has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley initiated coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Wells Fargo & Company raised their price target on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Finally, Citigroup lifted their price target on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $139.27.

3M Price Performance

Shares of NYSE MMM traded up $0.94 during mid-day trading on Friday, reaching $134.01. 1,043,191 shares of the company traded hands, compared to its average volume of 4,880,091. The firm has a market cap of $72.98 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 2.03 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 fifty-two week low of $75.40 and a fifty-two week high of $141.34. The stock has a fifty day simple moving average of $132.83 and a 200-day simple moving average of $116.09.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the business earned $2.68 EPS. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. Equities research analysts anticipate that 3M will post 7.28 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 dividend on an annualized basis and a dividend yield of 2.09%. 3M’s payout ratio is currently 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.