Banque Transatlantique SA Takes Position in 3M (NYSE:MMM)

Banque Transatlantique SA acquired a new position in 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,550 shares of the conglomerate's stock, valued at approximately $327,000.

Several other hedge funds have also bought and sold shares of MMM. World Investment Advisors LLC raised its position in 3M by 22.4% during the third quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate's stock valued at $1,609,000 after purchasing an additional 2,155 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of 3M by 26.8% during the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate's stock valued at $114,770,000 after buying an additional 178,450 shares in the last quarter. Principal Financial Group Inc. lifted its position in 3M by 15.3% in the 3rd quarter. Principal Financial Group Inc. now owns 737,075 shares of the conglomerate's stock worth $100,758,000 after buying an additional 97,741 shares during the last quarter. Nordea Investment Management AB boosted its stake in 3M by 4.2% in the fourth quarter. Nordea Investment Management AB now owns 60,109 shares of the conglomerate's stock worth $7,783,000 after buying an additional 2,448 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in 3M by 38.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 61,966 shares of the conglomerate's stock valued at $7,999,000 after acquiring an additional 17,283 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

3M Trading Up 3.0 %

Shares of NYSE MMM opened at $142.07 on Friday. The company has a market cap of $76.46 billion, a PE ratio of 18.82, a P/E/G ratio of 3.30 and a beta of 1.01. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm's 50 day moving average price is $142.33 and its 200-day moving average price is $138.37. 3M has a 52-week low of $95.01 and a 52-week high of $156.35.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share 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 firm had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. On average, equities research analysts expect that 3M will post 7.8 EPS for the current fiscal year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 14th were paid a dividend of $0.73 per share. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from 3M's previous quarterly dividend of $0.70. This represents a $2.92 dividend on an annualized basis and a yield of 2.06%. 3M's payout ratio is currently 36.87%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MMM. Citigroup lowered their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Royal Bank of Canada upped 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. Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Thursday, April 24th. Finally, Barclays boosted their price objective on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research 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 company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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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