Rampart Investment Management Company LLC lifted its holdings in shares of 3M Co (NYSE:MMM) by 81.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,273 shares of the conglomerate’s stock after acquiring an additional 5,953 shares during the period. Rampart Investment Management Company LLC’s holdings in 3M were worth $2,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Ballew Advisors Inc acquired a new position in 3M during the first quarter worth approximately $122,000. Horan Capital Management acquired a new position in 3M during the fourth quarter worth approximately $123,000. Stelac Advisory Services LLC acquired a new position in 3M during the first quarter worth approximately $125,000. Virtue Capital Management LLC acquired a new position in 3M during the fourth quarter worth approximately $127,000. Finally, Ford Financial Group Inc. acquired a new position in 3M during the fourth quarter worth approximately $143,000. 65.62% of the stock is currently owned by institutional investors and hedge funds.

3M opened at $203.86 on Thursday, Marketbeat Ratings reports. The company has a market capitalization of $119.45 billion, a PE ratio of 22.23, a P/E/G ratio of 1.90 and a beta of 1.16. The company has a current ratio of 1.65, a quick ratio of 1.17 and a debt-to-equity ratio of 1.11. 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 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $2.50. The business had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.21 billion. 3M had a return on equity of 50.11% and a net margin of 12.83%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. equities analysts predict that 3M Co will post 10.42 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Friday, May 18th will be paid a $1.36 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.67%. 3M’s dividend payout ratio (DPR) is presently 59.32%.

MMM has been the topic of several research analyst reports. Vetr raised 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 price target on the stock in a research report on Monday, February 12th. Deutsche Bank raised 3M from a “hold” rating to a “buy” rating and lifted their price target for the stock from $240.00 to $275.00 in a research report on Tuesday, February 13th. Barclays initiated coverage on 3M in a research report on Thursday, February 15th. They set an “underweight” rating and a $235.00 price target on the stock. ValuEngine lowered 3M from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Finally, Citigroup set a $284.00 price target on 3M and gave the stock a “buy” rating in a research report on Saturday, March 24th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $241.97.

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.

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

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