Alyeska Investment Group L.P. Has $157.29 Million Stake in 3M (NYSE:MMM)

Alyeska Investment Group L.P. raised its holdings in 3M (NYSE:MMM - Free Report) by 35.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,218,449 shares of the conglomerate's stock after buying an additional 317,956 shares during the period. Alyeska Investment Group L.P. owned about 0.22% of 3M worth $157,290,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Aptus Capital Advisors LLC lifted its position in 3M by 16.2% during the fourth quarter. Aptus Capital Advisors LLC now owns 6,814 shares of the conglomerate's stock worth $880,000 after acquiring an additional 948 shares during the last quarter. Albar Capital Partners LLP acquired a new stake in shares of 3M during the 4th quarter worth $18,095,000. 4WEALTH Advisors Inc. acquired a new position in 3M in the fourth quarter valued at about $439,000. Wahed Invest LLC raised its stake in 3M by 3.7% in the fourth quarter. Wahed Invest LLC now owns 13,920 shares of the conglomerate's stock valued at $1,797,000 after purchasing an additional 498 shares in the last quarter. Finally, South Plains Financial Inc. bought a new stake in 3M during the fourth quarter worth about $63,000. Institutional investors own 65.25% of the company's stock.

3M Trading Down 0.9 %

Shares of MMM stock traded down $1.30 during trading hours on Monday, hitting $140.78. 2,623,470 shares of the company's stock traded hands, compared to its average volume of 4,043,873. The stock has a market cap of $75.77 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The stock's 50 day simple moving average is $142.20 and its 200 day simple moving average is $138.42. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 12 month low of $95.01 and a 12 month high of $156.35.

3M (NYSE:MMM - Get Free Report) last announced its earnings results 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. On average, sell-side analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were issued a $0.73 dividend. The ex-dividend date was Friday, February 14th. This is a boost from 3M's previous quarterly dividend of $0.70. This represents a $2.92 annualized dividend and a yield of 2.07%. 3M's dividend payout ratio is presently 36.87%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MMM shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a report on Thursday, April 24th. 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. Royal Bank of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Finally, Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Two equities 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 company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.00.

3M Company 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.