Comprehensive Financial Consultants Institutional Inc. Makes New $205,000 Investment in 3M (NYSE:MMM)

Comprehensive Financial Consultants Institutional Inc. bought a new stake in 3M (NYSE:MMM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,501 shares of the conglomerate’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. MFA Wealth Advisors LLC purchased a new stake in shares of 3M in the 2nd quarter worth about $28,000. Meeder Asset Management Inc. grew its position in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in 3M during the 2nd quarter valued at $33,000. Finally, Gradient Investments LLC boosted its stake in shares of 3M by 44.7% during the second quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock valued at $36,000 after acquiring an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 1.0 %

NYSE:MMM opened at $134.34 on Friday. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The business has a 50 day simple moving average of $132.82 and a 200 day simple moving average of $116.50. The firm has a market capitalization of $73.16 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.22 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. Equities research analysts predict that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Upgrades and Downgrades

Several research firms have commented on MMM. Morgan Stanley initiated coverage on shares of 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price for the company. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada increased their price target on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, 3M currently has a consensus rating of “Hold” and an average price target of $139.27.

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.