V2 Financial group LLC Decreases Position in 3M (NYSE:MMM)

V2 Financial group LLC lowered its holdings in 3M (NYSE:MMM) by 1.5% in the third quarter, HoldingsChannel reports. The firm owned 7,877 shares of the conglomerate’s stock after selling 116 shares during the period. 3M comprises about 0.7% of V2 Financial group LLC’s portfolio, making the stock its 21st largest holding. V2 Financial group LLC’s holdings in 3M were worth $1,077,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MMM. Crystal Rock Capital Management bought a new position in 3M during the 3rd quarter valued at $1,388,000. GSA Capital Partners LLP increased its stake in shares of 3M by 550.4% in the third quarter. GSA Capital Partners LLP now owns 22,691 shares of the conglomerate’s stock worth $3,102,000 after purchasing an additional 19,202 shares during the period. Harbour Investments Inc. increased its stake in shares of 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares during the period. Opinicus Capital Inc. increased its stake in 3M by 8.5% during the third quarter. Opinicus Capital Inc. now owns 4,078 shares of the conglomerate’s stock valued at $558,000 after acquiring an additional 318 shares during the period. Finally, Versor Investments LP grew its stake in shares of 3M by 351.7% in the 3rd quarter. Versor Investments LP now owns 12,775 shares of the conglomerate’s stock valued at $1,746,000 after purchasing an additional 9,947 shares during the period. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MMM shares. Mizuho boosted their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup upped their price objective on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Barclays increased their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America increased their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $139.27.

3M Price Performance

Shares of NYSE:MMM opened at $133.17 on Tuesday. The firm has a market cap of $72.52 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. The firm’s fifty day moving average is $132.79 and its 200-day moving average is $117.13. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a 52 week low of $75.40 and a 52 week high of $141.34.

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

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.10%. 3M’s payout ratio is 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.