Toroso Investments LLC Has $2.61 Million Stock Holdings in 3M (NYSE:MMM)

Toroso Investments LLC lifted its stake in 3M (NYSE:MMM – Get Rating) by 5.4% during the third quarter, HoldingsChannel reports. The fund owned 23,572 shares of the conglomerate’s stock after purchasing an additional 1,198 shares during the quarter. Toroso Investments LLC’s holdings in 3M were worth $2,605,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Renaissance Technologies LLC increased its position in 3M by 1,889.1% during the first quarter. Renaissance Technologies LLC now owns 1,356,600 shares of the conglomerate’s stock worth $201,971,000 after buying an additional 1,288,400 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in 3M by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate’s stock worth $1,684,639,000 after buying an additional 758,126 shares during the last quarter. Two Sigma Advisers LP increased its position in 3M by 7,175.0% during the third quarter. Two Sigma Advisers LP now owns 552,900 shares of the conglomerate’s stock worth $61,095,000 after buying an additional 545,300 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in 3M during the third quarter worth $49,856,000. Finally, Two Sigma Investments LP boosted its holdings in 3M by 201.4% during the third quarter. Two Sigma Investments LP now owns 654,160 shares of the conglomerate’s stock valued at $72,285,000 after acquiring an additional 437,127 shares during the period. 65.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of 3M from $125.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, January 25th. Mizuho decreased their price target on shares of 3M from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, January 26th. Citigroup upped their price target on shares of 3M from $117.00 to $126.00 and gave the company a “neutral” rating in a report on Friday, December 9th. Royal Bank of Canada decreased their price target on shares of 3M from $113.00 to $106.00 in a report on Wednesday, January 25th. Finally, UBS Group decreased their price target on shares of 3M from $124.00 to $115.00 in a report on Wednesday, January 25th. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $125.92.

3M Stock Up 1.4 %

Shares of MMM opened at $104.21 on Friday. The stock has a market cap of $57.37 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 1.26 and a beta of 0.96. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. 3M has a 12 month low of $100.27 and a 12 month high of $154.66. The company has a 50-day moving average price of $114.70 and a two-hundred day moving average price of $118.85.

3M (NYSE:MMM – Get Rating) last announced its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $2.28 EPS for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.06). The business had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $8.09 billion. 3M had a return on equity of 39.72% and a net margin of 16.88%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.31 EPS. Equities analysts predict that 3M will post 8.65 EPS for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 12th. Stockholders of record on Friday, February 17th were issued a dividend of $1.50 per share. This is a positive change from 3M’s previous quarterly dividend of $1.49. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $6.00 annualized dividend and a dividend yield of 5.76%. 3M’s dividend payout ratio (DPR) is presently 59.11%.

About 3M

(Get Rating)

3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.