Marshall Wace LLP Has $6.12 Million Holdings in 3M (NYSE:MMM)

Marshall Wace LLP lowered its position in shares of 3M (NYSE:MMM – Get Rating) by 70.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,357 shares of the conglomerate’s stock after selling 134,382 shares during the quarter. Marshall Wace LLP’s holdings in 3M were worth $6,117,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Heritage Wealth Management LLC acquired a new position in 3M in the 2nd quarter valued at approximately $41,000. Alaska Permanent Fund Corp increased its stake in 3M by 9,440.0% in the 3rd quarter. Alaska Permanent Fund Corp now owns 477 shares of the conglomerate’s stock valued at $53,000 after buying an additional 472 shares during the period. JFS Wealth Advisors LLC grew its position in 3M by 55.1% in the third quarter. JFS Wealth Advisors LLC now owns 490 shares of the conglomerate’s stock worth $54,000 after acquiring an additional 174 shares in the last quarter. TD Capital Management LLC bought a new stake in 3M in the third quarter worth approximately $58,000. Finally, Horan Securities Inc. grew its position in 3M by 33.3% in the third quarter. Horan Securities Inc. now owns 593 shares of the conglomerate’s stock worth $66,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 65.61% of the company’s stock.

3M Stock Down 1.4 %

3M stock opened at $104.06 on Monday. The company’s 50 day simple moving average is $116.25 and its 200 day simple moving average is $119.53. 3M has a fifty-two week low of $103.74 and a fifty-two week high of $154.66. The firm has a market capitalization of $57.29 billion, a price-to-earnings ratio of 10.25, a PEG ratio of 1.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.54 and a quick ratio of 0.98.

3M (NYSE:MMM – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $2.28 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.06). 3M had a return on equity of 39.72% and a net margin of 16.88%. The firm had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the previous year, the business earned $2.31 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that 3M will post 8.64 EPS for the current year.

3M Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, March 12th. Shareholders of record on Friday, February 17th were issued a dividend of $1.50 per share. This is an increase from 3M’s previous quarterly dividend of $1.49. This represents a $6.00 annualized dividend and a yield of 5.77%. The ex-dividend date of this dividend was Thursday, February 16th. 3M’s dividend payout ratio (DPR) is 59.11%.

Analyst Ratings Changes

MMM has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of 3M from $124.00 to $115.00 in a report on Wednesday, January 25th. Royal Bank of Canada decreased their price objective on shares of 3M from $113.00 to $106.00 in a report on Wednesday, January 25th. Wells Fargo & Company decreased their price objective on shares of 3M from $125.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 25th. Citigroup increased their price objective on shares of 3M from $117.00 to $126.00 and gave the stock a “neutral” rating in a report on Friday, December 9th. Finally, Barclays decreased their price objective on shares of 3M from $130.00 to $122.00 and set an “underweight” rating on the stock in a report on Wednesday, January 25th. Three analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $125.92.

3M Company Profile

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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.