3M (NYSE:MMM) Shares Acquired by Crestline Management LP

Crestline Management LP increased its position in shares of 3M (NYSE:MMM - Free Report) by 776.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,314 shares of the conglomerate's stock after acquiring an additional 118,989 shares during the quarter. 3M accounts for about 0.6% of Crestline Management LP's holdings, making the stock its 25th largest position. Crestline Management LP's holdings in 3M were worth $17,339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in 3M by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock valued at $1,493,655,000 after purchasing an additional 280,048 shares during the period. Northern Trust Corp lifted its stake in shares of 3M by 12.6% in the fourth quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock valued at $871,738,000 after buying an additional 755,155 shares during the period. Capital World Investors grew its position in 3M by 25.4% during the fourth quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after buying an additional 1,248,093 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of 3M by 9.2% in the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock valued at $734,456,000 after buying an additional 479,621 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of 3M during the 4th quarter valued at about $636,767,000. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Price Performance

Shares of 3M stock traded up $0.80 during trading hours on Friday, hitting $141.92. The company's stock had a trading volume of 86,366 shares, compared to its average volume of 4,012,915. 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 12-month low of $95.90 and a 12-month high of $156.35. The business has a 50 day moving average price of $141.38 and a two-hundred day moving average price of $138.47. The company has a market cap of $76.38 billion, a PE ratio of 18.80, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 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%. Analysts expect that 3M will post 7.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of recent research reports. Royal Bank of Canada increased their target price on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Thursday, April 24th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Citigroup decreased their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, 3M has a consensus 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.