Tidal Investments LLC Grows Stock Holdings in 3M (NYSE:MMM)

Tidal Investments LLC grew its holdings in 3M (NYSE:MMM - Free Report) by 233.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 242,335 shares of the conglomerate's stock after buying an additional 169,602 shares during the period. Tidal Investments LLC's holdings in 3M were worth $31,283,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Life Planners acquired a new position in shares of 3M during the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new position in 3M during the fourth quarter worth $26,000. Hazlett Burt & Watson Inc. purchased a new stake in 3M in the 4th quarter valued at $27,000. Daymark Wealth Partners LLC increased its stake in shares of 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 acquiring an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Down 0.1%

Shares of NYSE MMM traded down $0.08 during trading on Tuesday, reaching $154.06. The stock had a trading volume of 2,528,785 shares, compared to its average volume of 3,993,873. 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 company has a market cap of $82.91 billion, a P/E ratio of 20.41, a PEG ratio of 3.30 and a beta of 1.02. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. The business's 50-day moving average price is $141.84 and its 200-day moving average price is $139.76.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, equities research analysts predict that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.90%. 3M's dividend payout ratio (DPR) is currently 36.87%.

Insider Buying and Selling

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total value of $1,179,493.30. Following the sale, the executive vice president now owns 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on MMM. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. Barclays increased their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price target on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research report on Friday. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Finally, Bank of America raised their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.08.

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.