Telos Capital Management Inc. Has $748,000 Holdings in 3M (NYSE:MMM)

Telos Capital Management Inc. grew its stake in shares of 3M (NYSE:MMM) by 133.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,838 shares of the conglomerate’s stock after acquiring an additional 3,906 shares during the period. Telos Capital Management Inc.’s holdings in 3M were worth $748,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MMM. Moneta Group Investment Advisors LLC raised its position in shares of 3M by 73,903.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,656,588 shares of the conglomerate’s stock valued at $798,258,000 after buying an additional 6,647,593 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after buying an additional 3,508,334 shares in the last quarter. Norges Bank acquired a new stake in shares of 3M in the fourth quarter valued at approximately $369,974,000. Renaissance Technologies LLC raised its position in 3M by 1,889.1% during the first quarter. Renaissance Technologies LLC now owns 1,356,600 shares of the conglomerate’s stock valued at $201,971,000 after purchasing an additional 1,288,400 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in 3M by 8,766.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock valued at $118,168,000 after purchasing an additional 1,068,748 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MMM. Mizuho restated a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $118.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays lowered their price objective on shares of 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Royal Bank of Canada lowered their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating for the company in a research report on Tuesday, April 2nd. Finally, StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $104.00.

3M Stock Performance

NYSE MMM opened at $90.95 on Thursday. The company has a debt-to-equity ratio of 2.69, a quick ratio of 0.76 and a current ratio of 1.07. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67. The stock has a market cap of $50.33 billion, a PE ratio of -7.20, a PEG ratio of 1.61 and a beta of 1.02. The firm’s fifty day moving average price is $95.81 and its two-hundred day moving average price is $97.26.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the firm posted $2.28 earnings per share. 3M’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts expect that 3M will post 8.79 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a $1.51 dividend. This is a boost from 3M’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.64%. 3M’s payout ratio is currently -47.82%.

Insider Buying and Selling

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

3M Company 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.