3M (NYSE:MMM) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its position in shares of 3M (NYSE:MMM) by 6.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,027 shares of the conglomerate’s stock after purchasing an additional 905 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in 3M were worth $2,191,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in 3M by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 49,461,361 shares of the conglomerate’s stock valued at $5,246,367,000 after acquiring an additional 377,703 shares during the period. Bank of New York Mellon Corp lifted its position in 3M by 11.8% during the second quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after purchasing an additional 533,520 shares during the period. Pacer Advisors Inc. boosted its holdings in 3M by 2.0% in the second quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock valued at $506,135,000 after purchasing an additional 97,340 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of 3M by 18.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock valued at $258,686,000 after buying an additional 396,773 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of 3M by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,940,202 shares of the conglomerate’s stock valued at $198,298,000 after buying an additional 11,315 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays raised their target price on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Citigroup raised their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday. Finally, StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.87.

3M Price Performance

Shares of NYSE MMM opened at $132.32 on Friday. The stock has a market capitalization of $72.06 billion, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 2.17 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The firm has a 50-day simple moving average of $132.76 and a 200-day simple moving average of $117.50. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the firm posted $2.68 EPS. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. On average, equities analysts predict that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently declared 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 2.12%. 3M’s dividend payout ratio is presently 35.35%.

3M Company 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.