Capital Performance Advisors LLP Takes Position in 3M (NYSE:MMM)

by · The Cerbat Gem

Capital Performance Advisors LLP purchased a new position in 3M (NYSE:MMM – Free Report) during the third quarter, Holdings Channel.com reports. The firm purchased 1,360 shares of the conglomerate’s stock, valued at approximately $186,000.

Other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in 3M in the 1st quarter worth approximately $937,000. Geneos Wealth Management Inc. boosted its position in shares of 3M by 2.0% in the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock worth $562,000 after buying an additional 105 shares during the period. Empirical Finance LLC grew its holdings in shares of 3M by 3.5% during the first quarter. Empirical Finance LLC now owns 20,113 shares of the conglomerate’s stock valued at $2,133,000 after buying an additional 675 shares in the last quarter. LSV Asset Management raised its position in 3M by 25.3% during the first quarter. LSV Asset Management now owns 12,400 shares of the conglomerate’s stock valued at $1,315,000 after buying an additional 2,500 shares during the period. Finally, AIA Group Ltd raised its position in 3M by 766.5% during the first quarter. AIA Group Ltd now owns 19,506 shares of the conglomerate’s stock valued at $2,069,000 after buying an additional 17,255 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

NYSE:MMM traded up $0.94 during trading hours on Friday, hitting $134.01. 1,043,191 shares of the company traded hands, compared to its average volume of 4,880,091. The firm has a 50-day moving average of $132.83 and a 200 day moving average of $116.09. The stock has a market capitalization of $72.98 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 2.03 and a beta of 0.95. 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 has a twelve month low of $75.40 and a twelve month high of $141.34.

3M (NYSE:MMM – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period last year, the business earned $2.68 earnings per share. On average, analysts forecast that 3M will post 7.28 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Friday, November 15th. 3M’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MMM shares. JPMorgan Chase & Co. lifted their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada lifted their price objective on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, October 23rd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Finally, Bank of America upped their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $139.27.

Check Out Our Latest Analysis on 3M

3M Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M (NYSE:MMM – Free Report).