German American Bancorp Inc. Has $414,000 Holdings in 3M (NYSE:MMM)

German American Bancorp Inc. lifted its holdings in shares of 3M (NYSE:MMM) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,029 shares of the conglomerate’s stock after buying an additional 300 shares during the quarter. German American Bancorp Inc.’s holdings in 3M were worth $414,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. McClarren Financial Advisors Inc. boosted its position in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of 3M in the 2nd quarter valued at about $28,000. Meeder Asset Management Inc. raised its holdings in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the period. TruNorth Capital Management LLC acquired a new position in shares of 3M in the 2nd quarter valued at approximately $33,000. Finally, Gradient Investments LLC increased its position in shares of 3M by 44.7% during the second quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock worth $36,000 after acquiring an additional 110 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on MMM. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and boosted their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Morgan Stanley began coverage on 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, StockNews.com cut 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two 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 MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.87.

3M Stock Down 0.3 %

NYSE MMM opened at $127.83 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $69.61 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.12 and a beta of 0.95. The company has a 50 day moving average of $132.75 and a 200-day moving average of $118.67. 3M has a 1-year low of $75.40 and a 1-year high of $141.34.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. 3M’s dividend payout ratio is 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.