Janus Henderson Group PLC Boosts Stock Position in 3M (NYSE:MMM)

Janus Henderson Group PLC increased its position in 3M (NYSE:MMM) by 5.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,624,933 shares of the conglomerate’s stock after acquiring an additional 193,957 shares during the quarter. Janus Henderson Group PLC owned about 0.67% of 3M worth $467,944,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in shares of 3M during the 4th quarter valued at $25,000. Hazlett Burt & Watson Inc. purchased a new position in shares of 3M in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. boosted its stake in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 214 shares during the period. ORG Partners LLC grew its position in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in 3M by 81.5% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock valued at $47,000 after purchasing an additional 163 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.8 %

NYSE MMM opened at $142.25 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52 week low of $96.76 and a 52 week high of $156.35. The firm has a market capitalization of $76.56 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.30 and a beta of 1.02. The company has a fifty day moving average of $141.31 and a two-hundred day moving average of $138.61.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, analysts predict that 3M will post 7.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MMM. JPMorgan Chase & Co. dropped their price target on 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Royal Bank of Canada raised their target price on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America raised their price objective on 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, Barclays boosted their target price on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.29.

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.