DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Has $16.51 Million Position in 3M (NYSE:MMM)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of 3M (NYSE:MMM - Free Report) by 513.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,929 shares of the conglomerate's stock after buying an additional 107,073 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in 3M were worth $16,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in 3M in the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new stake in 3M in the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. bought a new position in 3M in the 4th quarter worth approximately $27,000. Daymark Wealth Partners LLC increased its position in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock worth $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. increased its position in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after buying an additional 214 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Performance

MMM stock traded up $7.77 during midday trading on Monday, reaching $150.37. 4,974,820 shares of the company were exchanged, compared to its average volume of 4,031,647. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business has a 50-day moving average price of $141.31 and a two-hundred day moving average price of $138.70. 3M has a one year low of $96.76 and a one year high of $156.35. The firm has a market capitalization of $80.93 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02.

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, beating analysts' consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts forecast that 3M will post 7.8 EPS for the current year.

Wall Street Analyst Weigh In

MMM has been the topic of several recent analyst reports. Citigroup dropped their price target on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays upped their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research report on Saturday. Finally, Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $149.29.

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.