3M (NYSE:MMM) Shares Acquired by Czech National Bank

Czech National Bank boosted its holdings in 3M (NYSE:MMM) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,306 shares of the conglomerate’s stock after purchasing an additional 451 shares during the quarter. Czech National Bank’s holdings in 3M were worth $6,536,000 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 MMM. Financial Freedom LLC acquired a new stake in shares of 3M in the fourth quarter worth approximately $25,000. Financial Management Professionals Inc. raised its stake in 3M by 1,538.9% during the first quarter. Financial Management Professionals Inc. now owns 295 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 277 shares during the period. Aspire Private Capital LLC purchased a new position in 3M during the first quarter worth approximately $31,676,265,000. Artemis Wealth Advisors LLC boosted its holdings in shares of 3M by 1,361.9% in the 1st quarter. Artemis Wealth Advisors LLC now owns 307 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 286 shares during the last quarter. Finally, 25 LLC purchased a new stake in shares of 3M during the 1st quarter valued at $33,000. 65.24% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MMM has been the topic of several research reports. Barclays increased their target price on 3M from $93.00 to $96.00 in a research report on Wednesday, July 26th. Mizuho reaffirmed a “neutral” rating and issued a $120.00 price objective on shares of 3M in a research note on Tuesday, August 29th. Wolfe Research raised shares of 3M from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, August 29th. Morgan Stanley upgraded shares of 3M from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $102.00 to $113.00 in a research note on Thursday, August 31st. Finally, VNET Group reissued a “maintains” rating on shares of 3M in a research note on Tuesday, June 27th. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.08.

3M Stock Down 1.2 %

Shares of NYSE MMM opened at $101.06 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.96 and a current ratio of 1.44. 3M has a 1 year low of $92.38 and a 1 year high of $133.91. The stock’s 50-day simple moving average is $104.39 and its 200-day simple moving average is $102.97. The firm has a market cap of $55.78 billion, a price-to-earnings ratio of -35.58, a PEG ratio of 1.59 and a beta of 0.96.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.44. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.88 billion. 3M had a positive return on equity of 38.99% and a negative net margin of 4.43%. 3M’s quarterly revenue was down 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.48 EPS. As a group, equities analysts anticipate that 3M will post 8.95 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Monday, August 21st were given a dividend of $1.50 per share. The ex-dividend date was Friday, August 18th. This represents a $6.00 annualized dividend and a dividend yield of 5.94%. 3M’s payout ratio is -211.27%.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.