Plato Investment Management Ltd Purchases 240 Shares of 3M (NYSE:MMM)

Plato Investment Management Ltd grew its position in shares of 3M (NYSE:MMM) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,967 shares of the conglomerate’s stock after buying an additional 240 shares during the quarter. Plato Investment Management Ltd’s holdings in 3M were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. grew its stake in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the last quarter. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the second quarter valued at approximately $28,000. Meeder Asset Management Inc. grew its stake in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in shares of 3M during the second quarter valued at approximately $33,000. Finally, Gradient Investments LLC grew its stake in shares of 3M by 44.7% during the second quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Trading Up 0.7 %

MMM opened at $132.32 on Friday. The firm’s fifty day moving average is $132.76 and its two-hundred day moving average is $117.50. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The firm has a market cap of $72.06 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $141.34.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the business posted $2.68 earnings per share. The firm’s quarterly revenue was down 24.3% on a year-over-year basis. Equities research analysts anticipate that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. 3M’s payout ratio is 35.35%.

Analysts Set New Price Targets

MMM has been the topic of several research analyst reports. Citigroup increased their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Bank of America increased their price objective on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and increased their price objective for the company from $130.00 to $184.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the company from $110.00 to $150.00 in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $144.87.

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.