Raiffeisen Bank International AG Takes Position in 3M (NYSE:MMM)

Raiffeisen Bank International AG bought a new stake in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 17,490 shares of the conglomerate's stock, valued at approximately $2,258,000.

Several other institutional investors also recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. grew its stake in 3M by 97.9% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,652 shares of the conglomerate's stock valued at $1,762,000 after acquiring an additional 6,752 shares in the last quarter. ProShare Advisors LLC grew its stake in 3M by 34.0% during the fourth quarter. ProShare Advisors LLC now owns 227,581 shares of the conglomerate's stock valued at $29,378,000 after acquiring an additional 57,752 shares in the last quarter. Quantinno Capital Management LP grew its stake in shares of 3M by 45.2% in the 4th quarter. Quantinno Capital Management LP now owns 50,412 shares of the conglomerate's stock worth $6,508,000 after buying an additional 15,687 shares in the last quarter. Paradoxiom Capital L.P. purchased a new position in shares of 3M in the 4th quarter worth $7,956,000. Finally, Mufg Securities Americas Inc. purchased a new position in shares of 3M in the 4th quarter worth $1,038,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 2.9%

MMM traded up $4.37 on Friday, reaching $153.11. 3,556,311 shares of the company traded hands, compared to its average volume of 4,005,171. 3M has a one year low of $96.76 and a one year high of $156.35. The firm has a fifty day simple moving average of $141.60 and a two-hundred day simple moving average of $139.47. The company has a market cap of $82.40 billion, a P/E ratio of 20.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $5.78 billion. As a group, equities research analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. Wells Fargo & Company raised shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Royal Bank of Canada lifted their price objective on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Barclays lifted their price target on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, 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.