Lpwm LLC Has $254,000 Stock Holdings in 3M (NYSE:MMM)

Lpwm LLC trimmed its stake in 3M (NYSE:MMM) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,968 shares of the conglomerate’s stock after selling 446 shares during the quarter. Lpwm LLC’s holdings in 3M were worth $254,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC raised its position 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 acquiring an additional 79 shares during the period. Harbour Investments Inc. grew its stake in 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 in the last quarter. KMG Fiduciary Partners LLC grew its stake in 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after buying an additional 84 shares in the last quarter. TCV Trust & Wealth Management Inc. grew its stake in 3M by 1.3% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after buying an additional 84 shares in the last quarter. Finally, Weatherly Asset Management L. P. boosted its stake in shares of 3M by 3.3% in the 3rd quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after purchasing an additional 86 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Up 2.0 %

Shares of MMM stock opened at $137.35 on Wednesday. The stock’s fifty day moving average is $130.90 and its two-hundred day moving average is $127.12. 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 firm has a market capitalization of $74.80 billion, a P/E ratio of 17.34, a PEG ratio of 2.15 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34.

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

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is currently 35.35%.

Analysts Set New Price Targets

A number of research firms recently commented on MMM. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price target on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays cut their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reduced their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.33.

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.