Tradewinds LLC. Acquires 263 Shares of 3M (NYSE:MMM)

Tradewinds LLC. raised its holdings in shares of 3M (NYSE:MMM) by 11.1% during the third quarter, HoldingsChannel reports. The fund owned 2,622 shares of the conglomerate’s stock after purchasing an additional 263 shares during the quarter. Tradewinds LLC.’s holdings in 3M were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. CVA Family Office LLC grew its holdings in 3M by 1.9% in the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares during the period. Harbour Investments Inc. grew its stake in shares of 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after buying an additional 81 shares during the last quarter. Fortis Capital Advisors LLC increased its position in 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock valued at $307,000 after buying an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC raised its stake in 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. raised its stake in 3M by 1.3% during the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after buying an additional 84 shares during the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Down 0.3 %

MMM stock opened at $127.83 on Thursday. The company has a market cap of $69.61 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 2.12 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The business’s 50-day moving average is $132.75 and its two-hundred day moving average is $118.67. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during 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%. The business’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.68 EPS. As a group, analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s dividend payout ratio is presently 35.35%.

Analyst Ratings Changes

MMM has been the topic of a number of recent research reports. Mizuho raised their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, July 30th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. Finally, Citigroup upped their price objective on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.