3M (NYSE:MMM) Shares Acquired by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its holdings in 3M (NYSE:MMM - Free Report) by 29.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 642,354 shares of the conglomerate's stock after buying an additional 145,146 shares during the period. Ensign Peak Advisors Inc owned about 0.12% of 3M worth $82,921,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of 3M in the fourth quarter valued at approximately $636,767,000. Invesco Ltd. lifted its stake in 3M by 51.6% in the 4th quarter. Invesco Ltd. now owns 4,468,549 shares of the conglomerate's stock valued at $576,845,000 after buying an additional 1,520,619 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in 3M during the fourth quarter worth $175,110,000. Capital World Investors raised its holdings in shares of 3M by 25.4% in the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after acquiring an additional 1,248,093 shares during the last quarter. Finally, Amundi raised its holdings in shares of 3M by 55.7% in the fourth quarter. Amundi now owns 2,511,095 shares of the conglomerate's stock worth $337,815,000 after acquiring an additional 898,244 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Up 0.8 %

MMM opened at $142.25 on Friday. The company has a market cap of $76.56 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 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 has a 1 year low of $96.76 and a 1 year high of $156.35. The firm has a 50 day moving average price of $141.31 and a 200 day moving average price of $138.54.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion during 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%. Sell-side analysts expect that 3M will post 7.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Thursday, April 24th. Royal Bank of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their target price on shares of 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup cut their price target on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $147.00.

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.

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