Victrix Investment Advisors Makes New $3.74 Million Investment in 3M (NYSE:MMM)

Victrix Investment Advisors acquired a new stake in shares of 3M (NYSE:MMM) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 28,940 shares of the conglomerate’s stock, valued at approximately $3,736,000. 3M comprises about 2.7% of Victrix Investment Advisors’ investment portfolio, making the stock its 11th largest position.

Other institutional investors have also made changes to their positions in the company. St. Clair Advisors LLC bought a new stake in 3M during the fourth quarter worth approximately $655,000. Tidal Investments LLC raised its position in shares of 3M by 233.2% in the fourth quarter. Tidal Investments LLC now owns 242,335 shares of the conglomerate’s stock valued at $31,283,000 after purchasing an additional 169,602 shares during the period. TrinityPoint Wealth LLC lifted its stake in shares of 3M by 2.2% in the fourth quarter. TrinityPoint Wealth LLC now owns 15,411 shares of the conglomerate’s stock worth $1,989,000 after buying an additional 337 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of 3M by 45.8% during the 4th quarter. True Wealth Design LLC now owns 449 shares of the conglomerate’s stock worth $58,000 after buying an additional 141 shares during the period. Finally, Toronto Dominion Bank grew its stake in 3M by 0.7% in the 4th quarter. Toronto Dominion Bank now owns 276,937 shares of the conglomerate’s stock valued at $35,749,000 after buying an additional 1,961 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Price Performance

NYSE:MMM opened at $153.11 on Monday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The company has a 50-day moving average of $141.60 and a 200-day moving average of $139.47. 3M has a 52 week low of $96.76 and a 52 week high of $156.35. The company has a market capitalization of $82.40 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. As a group, equities research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.91%. 3M’s dividend payout ratio (DPR) is 36.87%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Barclays upped their price target on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday, April 23rd. Citigroup decreased their target price on 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Bank of America lifted their price target on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.08.

About 3M

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.