Natixis Advisors LLC Acquires 47,817 Shares of 3M (NYSE:MMM)

Natixis Advisors LLC increased its holdings in shares of 3M (NYSE:MMM) by 44.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,449 shares of the conglomerate’s stock after purchasing an additional 47,817 shares during the period. Natixis Advisors LLC’s holdings in 3M were worth $21,113,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MMM. Edgestream Partners L.P. acquired a new position in shares of 3M in the first quarter valued at approximately $1,990,000. UniSuper Management Pty Ltd raised its position in 3M by 262.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 17,190 shares of the conglomerate’s stock valued at $1,823,000 after buying an additional 12,448 shares during the last quarter. Bessemer Group Inc. boosted its position in 3M by 52.5% during the 1st quarter. Bessemer Group Inc. now owns 25,690 shares of the conglomerate’s stock worth $2,725,000 after acquiring an additional 8,849 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in shares of 3M during the 1st quarter worth approximately $273,000. Finally, Leelyn Smith LLC raised its holdings in shares of 3M by 5.1% in the first quarter. Leelyn Smith LLC now owns 19,887 shares of the conglomerate’s stock valued at $2,109,000 after purchasing an additional 960 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on MMM. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and increased their target price for the stock from $110.00 to $150.00 in a report on Monday, July 29th. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada upped their target price on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, October 23rd. Morgan Stanley began coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Finally, Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

3M Trading Up 0.3 %

Shares of MMM stock opened at $130.17 on Tuesday. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The firm has a 50 day moving average price of $132.84 and a two-hundred day moving average price of $118.39. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The company has a market capitalization of $70.89 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95.

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

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.15%. 3M’s dividend payout ratio is presently 35.35%.

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.