World Investment Advisors LLC Has $1.61 Million Position in 3M (NYSE:MMM)

World Investment Advisors LLC grew its holdings in 3M (NYSE:MMM) by 22.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,768 shares of the conglomerate’s stock after buying an additional 2,155 shares during the quarter. World Investment Advisors LLC’s holdings in 3M were worth $1,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Sanctuary Advisors LLC increased its position in 3M by 25.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 65,547 shares of the conglomerate’s stock valued at $8,417,000 after acquiring an additional 13,193 shares in the last quarter. Tudor Financial Inc. bought a new stake in shares of 3M during the third quarter valued at approximately $259,000. Virtue Capital Management LLC increased its holdings in shares of 3M by 216.8% in the third quarter. Virtue Capital Management LLC now owns 7,996 shares of the conglomerate’s stock valued at $1,093,000 after purchasing an additional 5,472 shares in the last quarter. Toronto Dominion Bank raised its position in 3M by 5.8% in the 3rd quarter. Toronto Dominion Bank now owns 274,976 shares of the conglomerate’s stock worth $37,589,000 after purchasing an additional 15,112 shares during the last quarter. Finally, Financial Avengers Inc. acquired a new position in 3M during the 3rd quarter worth $132,000. 65.25% of the stock is owned by institutional investors.

3M Stock Up 0.1 %

NYSE:MMM opened at $129.92 on Friday. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The stock has a 50-day moving average price of $131.32 and a two-hundred day moving average price of $122.35. The stock has a market cap of $70.75 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 2.15 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Ratings Changes

MMM has been the subject of a number of recent research reports. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Bank of America boosted their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised 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 Wednesday, October 23rd. Morgan Stanley assumed coverage on shares of 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $144.87.

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.