Caisse DE Depot ET Placement DU Quebec Increases Holdings in 3M (NYSE:MMM)

Caisse DE Depot ET Placement DU Quebec increased its stake in 3M (NYSE:MMM - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 152,662 shares of the conglomerate's stock after buying an additional 7,900 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in 3M were worth $19,707,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Freestone Grove Partners LP acquired a new stake in 3M during the 4th quarter valued at $47,658,000. One68 Global Capital LLC bought a new position in 3M in the 4th quarter valued at approximately $1,759,000. Wise Wealth Partners bought a new position in shares of 3M in the 4th quarter valued at $293,000. Parvin Asset Management LLC acquired a new stake in shares of 3M during the fourth quarter valued at about $1,770,000. Finally, Rehmann Capital Advisory Group boosted its position in 3M by 5.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,190 shares of the conglomerate's stock worth $412,000 after buying an additional 156 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

Shares of NYSE MMM traded down $2.65 during mid-day trading on Tuesday, hitting $138.15. The company had a trading volume of 2,847,450 shares, compared to its average volume of 4,039,115. 3M has a 1 year low of $95.01 and a 1 year high of $156.35. The company has a market capitalization of $74.35 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 3.30 and a beta of 1.01. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock's 50-day moving average price is $142.20 and its 200-day moving average price is $138.42.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. On average, sell-side analysts forecast that 3M will post 7.8 earnings per share for the current year.

Analysts Set New Price Targets

MMM has been the subject of a number of analyst reports. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays lifted their price target 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. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Thursday, April 24th. Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. dropped 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. Two investment 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target 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.