DeDora Capital Inc. raised its position in 3M Co (NYSE:MMM) by 24.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,524 shares of the conglomerate’s stock after purchasing an additional 685 shares during the quarter. DeDora Capital Inc.’s holdings in 3M were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MMM. Oregon Public Employees Retirement Fund raised its position in 3M by 17,350.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock valued at $141,000 after purchasing an additional 26,742,875 shares during the period. Norges Bank purchased a new stake in 3M in the fourth quarter valued at approximately $918,305,000. BlackRock Inc. raised its position in 3M by 3.0% in the fourth quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock valued at $7,435,433,000 after purchasing an additional 1,152,714 shares during the period. Bessemer Group Inc. raised its position in 3M by 2,768.8% in the fourth quarter. Bessemer Group Inc. now owns 578,657 shares of the conglomerate’s stock valued at $110,258,000 after purchasing an additional 558,486 shares during the period. Finally, Geode Capital Management LLC raised its position in 3M by 5.0% in the fourth quarter. Geode Capital Management LLC now owns 7,416,248 shares of the conglomerate’s stock valued at $1,410,584,000 after purchasing an additional 353,754 shares during the period. 67.11% of the stock is currently owned by institutional investors.

NYSE:MMM opened at $174.12 on Thursday. The firm has a market capitalization of $101.00 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.02 and a quick ratio of 1.38. 3M Co has a 52 week low of $172.79 and a 52 week high of $219.75.

3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.50 by ($0.27). The business had revenue of $7.86 billion during the quarter, compared to analyst estimates of $8.02 billion. 3M had a return on equity of 57.42% and a net margin of 17.43%. The business’s revenue was down 5.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.50 EPS. On average, sell-side analysts anticipate that 3M Co will post 9.45 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be paid a $1.44 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $5.76 annualized dividend and a dividend yield of 3.31%. 3M’s dividend payout ratio (DPR) is 55.07%.

MMM has been the topic of a number of research analyst reports. reissued a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Morgan Stanley cut their target price on 3M from $201.00 to $199.00 and set an “equal weight” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. cut their target price on 3M from $158.00 to $154.00 and set an “underweight” rating on the stock in a research report on Friday, March 29th. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Finally, Barclays cut their target price on 3M from $189.00 to $188.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. 3M presently has a consensus rating of “Hold” and a consensus target price of $197.92.

In other 3M news, Director Gregory R. Page purchased 1,000 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was acquired at an average price of $176.26 per share, for a total transaction of $176,260.00. Following the completion of the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $705,040. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joaquin Delgado sold 4,897 shares of the business’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $207.30, for a total transaction of $1,015,148.10. Following the completion of the transaction, the executive vice president now owns 23,191 shares of the company’s stock, valued at approximately $4,807,494.30. The disclosure for this sale can be found here. Insiders own 0.83% of the company’s stock.

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3M Company Profile

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

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

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