Vise Technologies Inc. Acquires 4,500 Shares of 3M Company $MMM

Vise Technologies Inc. boosted its holdings in shares of 3M Company (NYSE:MMM) by 21.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,397 shares of the conglomerate’s stock after buying an additional 4,500 shares during the quarter. Vise Technologies Inc.’s holdings in 3M were worth $4,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp grew its holdings in shares of 3M by 0.4% during the 2nd quarter. State Street Corp now owns 27,828,966 shares of the conglomerate’s stock worth $4,505,788,000 after purchasing an additional 105,222 shares during the period. Amundi increased its position in shares of 3M by 67.0% during the 2nd quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock worth $734,448,000 after purchasing an additional 1,819,178 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of 3M by 7.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock worth $637,202,000 after purchasing an additional 270,458 shares during the last quarter. National Pension Service raised its holdings in 3M by 3.6% in the 2nd quarter. National Pension Service now owns 1,401,543 shares of the conglomerate’s stock valued at $226,924,000 after buying an additional 48,167 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH raised its holdings in 3M by 1.2% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 376,784 shares of the conglomerate’s stock valued at $61,849,000 after buying an additional 4,628 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

MMM has been the topic of a number of recent analyst reports. Weiss Ratings raised shares of 3M from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Wolfe Research reiterated an “outperform” rating on shares of 3M in a research report on Thursday, July 9th. The Goldman Sachs Group reissued a “buy” rating on shares of 3M in a research note on Wednesday, July 22nd. Royal Bank Of Canada upped their price objective on shares of 3M from $132.00 to $135.00 and gave the stock an “underperform” rating in a report on Wednesday, October 21st. Finally, Mizuho increased their price objective on shares of 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $185.36.

3M Trading Down 0.7%

Shares of NYSE MMM opened at $177.07 on Wednesday. 3M Company has a twelve month low of $139.34 and a twelve month high of $184.90. The company has a current ratio of 1.41, a quick ratio of 1.06 and a debt-to-equity ratio of 3.01. The stock has a fifty day simple moving average of $168.40 and a 200-day simple moving average of $161.43. The stock has a market capitalization of $91.50 billion, a PE ratio of 20.11, a PEG ratio of 2.32 and a beta of 1.01.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.12. 3M had a return on equity of 123.11% and a net margin of 14.01%. The firm had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the previous year, the business earned $2.19 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that 3M Company will post 9.14 earnings per share for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, November 13th. 3M’s payout ratio is currently 46.50%.

3M Company Profile

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.