Lazard Asset Management LLC Buys 100,140 Shares of 3M (NYSE:MMM)

Lazard Asset Management LLC raised its stake in 3M (NYSE:MMM - Free Report) by 46.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313,892 shares of the conglomerate's stock after buying an additional 100,140 shares during the period. Lazard Asset Management LLC owned approximately 0.06% of 3M worth $40,519,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Financial Life Planners purchased a new position in 3M during the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M during the 4th quarter valued at $26,000. Hazlett Burt & Watson Inc. purchased a new position in shares of 3M during the 4th quarter valued at $27,000. Daymark Wealth Partners LLC grew its holdings in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. grew 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 valued at $40,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 65.25% of the company's stock.

3M Stock Performance

3M stock traded up $4.37 on Friday, reaching $153.11. 3,556,311 shares of the stock were exchanged, compared to its average volume of 4,010,736. The stock has a market cap of $82.40 billion, a PE ratio of 20.28, a PEG ratio of 3.30 and a beta of 1.02. 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 has a twelve month low of $96.76 and a twelve month high of $156.35. The firm has a fifty day moving average price of $141.49 and a two-hundred day moving average price of $139.15.

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, topping analysts' consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Sell-side analysts anticipate that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.91%. 3M's dividend payout ratio is currently 36.87%.

Wall Street Analysts Forecast Growth

MMM has been the topic of several research analyst reports. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Barclays boosted their price target on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 10th. Finally, Royal Bank of Canada upped their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $151.21.

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.