MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in 3M (NYSE:MMM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 3M (NYSE:MMM - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,300 shares of the conglomerate's stock after buying an additional 4,964 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in 3M were worth $9,591,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MMM. Financial Life Planners purchased a new position in 3M in the 4th quarter valued at approximately $25,000. Proficio Capital Partners LLC purchased a new position in 3M in the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. purchased a new position in 3M in the 4th quarter valued at approximately $27,000. Daymark Wealth Partners LLC increased its stake in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 214 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on MMM shares. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada raised their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Barclays increased their target price on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their target price on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus price target of $152.08.

3M Price Performance

MMM stock opened at $153.11 on Friday. 3M has a 52-week low of $96.76 and a 52-week high of $156.35. The stock's fifty day simple moving average is $141.60 and its 200-day simple moving average is $139.32. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The stock has a market capitalization of $82.40 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02.

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, topping 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 business had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. Equities research analysts expect that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

The company also recently announced 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 yield of 1.91%. 3M's payout ratio is currently 36.87%.

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.

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