Carroll Financial Associates Inc. raised its stake in 3M Co (NYSE:MMM) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,720 shares of the conglomerate’s stock after buying an additional 262 shares during the quarter. Carroll Financial Associates Inc.’s holdings in 3M were worth $1,855,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MMM. First Hawaiian Bank grew its holdings in shares of 3M by 16.6% during the 4th quarter. First Hawaiian Bank now owns 9,661 shares of the conglomerate’s stock worth $1,840,000 after purchasing an additional 1,372 shares during the period. State of Alaska Department of Revenue boosted its holdings in 3M by 2.4% during the 4th quarter. State of Alaska Department of Revenue now owns 164,784 shares of the conglomerate’s stock valued at $31,395,000 after acquiring an additional 3,906 shares during the period. United Capital Management of KS Inc. boosted its holdings in 3M by 8.7% during the 4th quarter. United Capital Management of KS Inc. now owns 8,429 shares of the conglomerate’s stock valued at $1,606,000 after acquiring an additional 678 shares during the period. Welch Group LLC boosted its holdings in 3M by 2.9% during the 4th quarter. Welch Group LLC now owns 121,094 shares of the conglomerate’s stock valued at $23,073,000 after acquiring an additional 3,367 shares during the period. Finally, Arlington Partners LLC boosted its holdings in 3M by 177.8% during the 4th quarter. Arlington Partners LLC now owns 625 shares of the conglomerate’s stock valued at $119,000 after acquiring an additional 400 shares during the period. Institutional investors own 66.17% of the company’s stock.

MMM stock opened at $192.21 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.36 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $111.97 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.75 and a beta of 1.14. 3M Co has a 1 year low of $176.87 and a 1 year high of $259.77.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.12). 3M had a net margin of 13.79% and a return on equity of 54.60%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same period in the prior year, the business earned $2.33 EPS. 3M’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts forecast that 3M Co will post 9.95 EPS for the current fiscal year.

3M announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 13th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the conglomerate to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

In other 3M news, Director Gregory R. Page bought 1,000 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were acquired at an average price of $184.50 per share, with a total value of $184,500.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $276,750. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

MMM has been the subject of a number of research analyst reports. Credit Suisse Group initiated coverage on 3M in a report on Friday, October 12th. They set an “outperform” rating and a $228.00 target price for the company. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Barclays lowered their target price on 3M from $201.00 to $195.00 and set an “underweight” rating for the company in a report on Wednesday, October 24th. Citigroup lowered their target price on 3M from $251.00 to $228.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Finally, Royal Bank of Canada restated a “buy” rating and set a $213.00 target price on shares of 3M in a report on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $224.30.

ILLEGAL ACTIVITY NOTICE: “Carroll Financial Associates Inc. Has $1.86 Million Holdings in 3M Co (MMM)” was originally reported by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://theolympiareport.com/2019/01/12/carroll-financial-associates-inc-has-1-86-million-holdings-in-3m-co-mmm.html.

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.

Featured Story: Diversification For Individual Investors

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.