Fiduciary Trust Co Purchases 3,465 Shares of 3M (NYSE:MMM)

Fiduciary Trust Co grew its stake in shares of 3M (NYSE:MMM - Free Report) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 65,386 shares of the conglomerate's stock after purchasing an additional 3,465 shares during the period. Fiduciary Trust Co's holdings in 3M were worth $8,441,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MMM. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after buying an additional 67 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in 3M by 1.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock valued at $665,000 after purchasing an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC lifted its stake in 3M by 2.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock valued at $381,000 after purchasing an additional 71 shares during the last quarter. Gilbert & Cook Inc. lifted its stake in 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock valued at $659,000 after purchasing an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC lifted its stake in 3M by 5.1% in the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after purchasing an additional 76 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

3M Price Performance

Shares of 3M stock traded up $7.77 during trading on Monday, hitting $150.37. The stock had a trading volume of 4,974,820 shares, compared to its average volume of 4,031,647. The firm has a market cap of $80.93 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a 12 month low of $96.76 and a 12 month high of $156.35. The business's 50-day moving average is $141.31 and its 200 day moving average is $138.70. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last released 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. The firm had revenue of $5.80 billion for 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%. As a group, sell-side analysts anticipate that 3M will post 7.8 earnings per share for the current year.

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.