Lmcg Investments LLC Has $290,000 Stock Holdings in 3M (NYSE:MMM)

Lmcg Investments LLC trimmed its stake in shares of 3M (NYSE:MMM) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,246 shares of the conglomerate’s stock after selling 191 shares during the period. Lmcg Investments LLC’s holdings in 3M were worth $290,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitchell & Pahl Private Wealth LLC increased its position in shares of 3M by 3.6% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 21,650 shares of the conglomerate’s stock worth $2,795,000 after acquiring an additional 759 shares in the last quarter. Strong Tower Advisory Services boosted its stake in 3M by 4.5% in the 4th quarter. Strong Tower Advisory Services now owns 46,715 shares of the conglomerate’s stock worth $6,030,000 after purchasing an additional 2,020 shares during the period. Diversify Wealth Management LLC grew its position in 3M by 32.5% during the 4th quarter. Diversify Wealth Management LLC now owns 5,021 shares of the conglomerate’s stock worth $659,000 after purchasing an additional 1,232 shares in the last quarter. Grove Bank & Trust raised its stake in 3M by 6.6% during the 4th quarter. Grove Bank & Trust now owns 1,686 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 105 shares during the period. Finally, Brady Martz Wealth Solutions LLC purchased a new stake in shares of 3M in the fourth quarter valued at $887,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group raised 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 research report on Wednesday, November 13th. 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 report on Friday, January 3rd. Bank of America raised their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Finally, Mizuho boosted their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. 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 company. According to data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and an average target price of $144.13.

3M Price Performance

NYSE MMM opened at $146.86 on Wednesday. 3M has a 1 year low of $75.40 and a 1 year high of $150.00. The company has a fifty day simple moving average of $131.40 and a 200 day simple moving average of $128.20. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $79.98 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.30 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 earnings per share. On average, sell-side analysts predict that 3M will post 7.28 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

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.