Mutual of America Capital Management LLC Has $9.25 Million Holdings in 3M (NYSE:MMM)

Mutual of America Capital Management LLC decreased its stake in 3M (NYSE:MMM) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,660 shares of the conglomerate’s stock after selling 2,152 shares during the quarter. Mutual of America Capital Management LLC’s holdings in 3M were worth $9,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new position in 3M during the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC boosted its position in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. Meeder Asset Management Inc. increased its position in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in 3M during the 2nd quarter worth $33,000. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

NYSE:MMM opened at $129.79 on Monday. The stock has a market capitalization of $70.68 billion, a PE ratio of 16.39, a P/E/G ratio of 2.15 and a beta of 0.95. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The firm has a fifty day simple moving average of $132.80 and a 200 day simple moving average of $118.15. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was down 24.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 EPS. On average, research analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.16%. 3M’s payout ratio is 35.35%.

Analysts Set New Price Targets

A number of research firms have issued reports on MMM. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Citigroup increased their target price on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company boosted their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.87.

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.