Paradoxiom Capital L.P. Takes $7.96 Million Position in 3M (NYSE:MMM)

Paradoxiom Capital L.P. bought a new position in shares of 3M (NYSE:MMM - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 61,630 shares of the conglomerate's stock, valued at approximately $7,956,000. 3M makes up 3.3% of Paradoxiom Capital L.P.'s holdings, making the stock its 16th biggest position.

Other large investors also recently modified their holdings of the company. Investors Asset Management of Georgia Inc. GA ADV raised its holdings 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 valued at $694,000 after purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of 3M by 1.4% in the 4th 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 in the last quarter. LaSalle St. Investment Advisors LLC raised its holdings in shares of 3M by 2.5% in the 4th 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 in the last quarter. Gilbert & Cook Inc. raised its holdings in shares of 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock valued at $659,000 after purchasing an additional 73 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its holdings in shares of 3M by 5.1% in the 4th 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 in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

3M stock traded up $4.37 during midday trading on Friday, hitting $153.11. 3,556,311 shares of the company's stock were exchanged, compared to its average volume of 4,010,736. 3M has a 12-month low of $96.76 and a 12-month high of $156.35. 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 stock has a market cap 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. The firm's 50 day simple moving average is $141.60 and its 200 day simple moving average is $139.32.

3M (NYSE:MMM - Get Free Report) last issued 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 net margin of 15.71% and a return on equity of 100.77%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. Equities research analysts predict that 3M will post 7.8 EPS for the current year.

3M Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada increased their target price on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. Finally, Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $151.21.

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.