Candriam Luxembourg S.C.A. Increases Holdings in 3M Co (MMM)

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Candriam Luxembourg S.C.A. grew its stake in 3M Co (NYSE:MMM) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,398 shares of the conglomerate’s stock after acquiring an additional 4,124 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in 3M were worth $15,674,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lenox Wealth Advisors Inc. increased its stake in shares of 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 489 shares during the last quarter. Horan Capital Management purchased a new position in shares of 3M during the 4th quarter worth $123,000. Virtue Capital Management LLC purchased a new position in shares of 3M during the 4th quarter worth $127,000. Ballew Advisors Inc purchased a new position in shares of 3M during the 1st quarter worth $122,000. Finally, Field & Main Bank purchased a new position in shares of 3M during the 4th quarter worth $140,000. 65.62% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on MMM shares. Vetr upgraded 3M from a “buy” rating to a “strong-buy” rating and set a $256.47 price target for the company in a report on Friday, March 23rd. Citigroup set a $263.00 price target on 3M and gave the stock a “buy” rating in a report on Saturday. JPMorgan Chase & Co. lowered their price target on 3M from $227.00 to $221.00 and set an “underweight” rating for the company in a report on Thursday, April 26th. Royal Bank of Canada lowered their target price on 3M to $227.00 and set an “underperform” rating for the company in a report on Wednesday, April 25th. Finally, Zacks Investment Research lowered 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $240.65.

Shares of 3M traded down $0.03, reaching $204.89, during trading on Wednesday, reports. The company’s stock had a trading volume of 2,097,873 shares, compared to its average volume of 2,785,543. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.17. The company has a market cap of $121.78 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 1.94 and a beta of 1.16. 3M Co has a 12-month low of $191.44 and a 12-month high of $259.77.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 24th. The conglomerate reported $2.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.50. 3M had a return on equity of 50.11% and a net margin of 12.83%. The firm had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.21 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. equities research analysts anticipate that 3M Co will post 10.4 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 12th. Investors of record on Friday, May 18th were issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Thursday, May 17th. 3M’s dividend payout ratio is currently 59.32%.

3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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