Collar Capital Management LLC Invests $2.35 Million in 3M (NYSE:MMM)

Collar Capital Management LLC purchased a new position in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,183 shares of the conglomerate's stock, valued at approximately $2,347,000. 3M accounts for approximately 2.0% of Collar Capital Management LLC's portfolio, making the stock its 18th biggest holding.

Several other large investors also recently added to or reduced their stakes in MMM. Financial Life Planners bought a new stake in shares of 3M in the fourth quarter valued at approximately $25,000. Hazlett Burt & Watson Inc. purchased a new position in 3M in the 4th quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its holdings in 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares during the period. ORG Partners LLC lifted its position in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in shares of 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Price Performance

MMM traded up $1.13 during midday trading on Friday, hitting $142.25. The stock had a trading volume of 2,634,123 shares, compared to its average volume of 4,028,381. The company has a market cap of $76.56 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 3M has a 1 year low of $96.76 and a 1 year high of $156.35. The business has a fifty day moving average of $141.31 and a 200 day moving average of $138.54. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. As a group, equities analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Thursday, April 24th. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Royal Bank of Canada boosted their price target on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Finally, Barclays upped their price target on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and an average target price of $147.00.

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.