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

World Investment Advisors LLC lifted its holdings in shares of 3M (NYSE:MMM) by 22.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,768 shares of the conglomerate’s stock after purchasing an additional 2,155 shares during the quarter. World Investment Advisors LLC’s holdings in 3M were worth $1,609,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. raised its holdings in 3M by 16.2% during the third quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after buying an additional 20,421 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after acquiring an additional 5,210 shares in the last quarter. Stonegate Investment Group LLC lifted its holdings in 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Ausdal Financial Partners Inc. boosted its position in 3M by 6.7% during the second quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after purchasing an additional 249 shares during the period. Finally, Candriam S.C.A. grew its holdings in 3M by 19.2% during the second quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock valued at $3,931,000 after purchasing an additional 6,185 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the subject of a number of analyst reports. Mizuho boosted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Bank of America lifted their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Finally, Barclays raised their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

3M Stock Up 0.1 %

Shares of MMM opened at $129.92 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The company 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 P/E/G ratio of 2.15 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $141.34.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating 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 analyst estimates of $6.06 billion. During the same quarter in the previous year, the firm earned $2.68 EPS. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. Equities analysts predict that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors 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 dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

3M 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.