Advisory Alpha LLC Acquires New Stake in 3M (NYSE:MMM)

Advisory Alpha LLC acquired a new stake in 3M (NYSE:MMM) during the 4th quarter, Holdings Channel.com reports. The firm acquired 1,662 shares of the conglomerate’s stock, valued at approximately $215,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. CVA Family Office LLC raised its holdings in shares of 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the period. Wynn Capital LLC raised its holdings in shares of 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares during the period. Harbour Investments Inc. raised its holdings in shares of 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 81 shares during the period. KMG Fiduciary Partners LLC raised its holdings in shares of 3M by 0.5% in the 3rd 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 period. Finally, TCV Trust & Wealth Management Inc. increased its holdings in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MMM. Mizuho upped their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. JPMorgan Chase & Co. upped their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 0.4 %

Shares of NYSE MMM opened at $149.64 on Friday. The business has a 50-day moving average price of $132.09 and a 200 day moving average price of $128.67. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The stock has a market cap of $81.49 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.42 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $152.08.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a return on equity of 97.19% and a net margin of 15.71%. The firm’s revenue was down 25.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.42 EPS. Equities research analysts forecast that 3M will post 7.66 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. Stockholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 37.09%.

About 3M

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.