Brooklyn Investment Group Buys 104 Shares of 3M (NYSE:MMM)

Brooklyn Investment Group boosted its position in shares of 3M (NYSE:MMM) by 23.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 550 shares of the conglomerate’s stock after purchasing an additional 104 shares during the period. Brooklyn Investment Group’s holdings in 3M were worth $71,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whitener Capital Management Inc. lifted its stake in 3M by 1.4% in the 4th quarter. Whitener Capital Management Inc. now owns 17,007 shares of the conglomerate’s stock valued at $2,195,000 after acquiring an additional 238 shares in the last quarter. Merit Financial Group LLC raised its holdings in shares of 3M by 106.8% in the fourth quarter. Merit Financial Group LLC now owns 18,004 shares of the conglomerate’s stock valued at $2,324,000 after purchasing an additional 9,299 shares during the last quarter. Relyea Zuckerberg Hanson LLC boosted its holdings in 3M by 131.0% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 4,498 shares of the conglomerate’s stock worth $581,000 after purchasing an additional 2,551 shares during the last quarter. Everpar Advisors LLC grew its position in 3M by 8.0% in the fourth quarter. Everpar Advisors LLC now owns 1,980 shares of the conglomerate’s stock valued at $256,000 after purchasing an additional 146 shares in the last quarter. Finally, KMG Fiduciary Partners LLC increased its stake in 3M by 9.5% in the 4th quarter. KMG Fiduciary Partners LLC now owns 17,723 shares of the conglomerate’s stock valued at $2,288,000 after buying an additional 1,537 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 1.3 %

MMM stock opened at $141.02 on Monday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. The stock has a market capitalization of $76.80 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. The business’s fifty day moving average price is $131.24 and its two-hundred day moving average price is $127.74. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the firm earned $2.68 EPS. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. On average, equities analysts anticipate that 3M will post 7.27 earnings per share 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 dividend yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is presently 35.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MMM shares. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Bank of America increased their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. dropped their price objective on 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 15th. Barclays decreased their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday. 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

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.