Metis Global Partners LLC Buys 137 Shares of 3M (NYSE:MMM)

Metis Global Partners LLC raised its stake in 3M (NYSE:MMM) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,811 shares of the conglomerate’s stock after acquiring an additional 137 shares during the period. Metis Global Partners LLC’s holdings in 3M were worth $3,528,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MMM. CVA Family Office LLC increased its stake in 3M by 1.9% during the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after purchasing an additional 79 shares in the last quarter. Harbour Investments Inc. raised its holdings in 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after acquiring an additional 81 shares during the last quarter. Fortis Capital Advisors LLC raised its holdings in 3M by 2.9% in the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after acquiring an additional 84 shares during the last quarter. KMG Fiduciary Partners LLC lifted its position in 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after acquiring an additional 84 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its stake in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after purchasing an additional 84 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 0.7 %

3M stock opened at $132.32 on Friday. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The firm has a market capitalization of $72.06 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 2.17 and a beta of 0.95. The firm has a 50 day moving average of $132.76 and a 200 day moving average of $117.50. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

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

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.12%. 3M’s payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their price target for the company from $130.00 to $184.00 in a report on Wednesday. Barclays boosted their price objective on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $150.00 in a research note on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.