Signature Financial Management Inc. decreased its stake in shares of 3M Co (NYSE:MMM) by 24.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,980 shares of the conglomerate’s stock after selling 939 shares during the period. Signature Financial Management Inc.’s holdings in 3M were worth $701,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. grew its stake in 3M by 16,300.0% during the fourth quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock worth $116,000 after buying an additional 489 shares during the period. Horan Capital Management purchased a new stake in 3M during the fourth quarter worth approximately $123,000. Sawyer & Company Inc purchased a new stake in 3M during the fourth quarter worth approximately $138,000. Field & Main Bank purchased a new stake in 3M during the fourth quarter worth approximately $140,000. Finally, Mascoma Wealth Management LLC grew its stake in 3M by 87.5% during the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after buying an additional 350 shares during the period. Institutional investors own 66.89% of the company’s stock.
Several brokerages have recently weighed in on MMM. ValuEngine downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Vetr upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $250.06 target price for the company in a research note on Monday, February 5th. Barclays began coverage on shares of 3M in a research note on Thursday, February 15th. They issued an “underweight” rating and a $235.00 target price for the company. Finally, Hilliard Lyons upgraded shares of 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a research note on Wednesday, January 24th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $254.02.
3M Co (NYSE MMM) opened at $239.80 on Tuesday. 3M Co has a 52 week low of $188.62 and a 52 week high of $259.77. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The company has a market cap of $143,723.92, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10.
3M (NYSE:MMM) last posted its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The firm had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same period in the prior year, the firm posted $1.88 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. equities research analysts predict that 3M Co will post 10.59 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were paid a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.27%. This is an increase from 3M’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio is 68.69%.
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3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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