Investor s Fiduciary Advisor Network LLC Makes New Investment in 3M (NYSE:MMM)

Investor s Fiduciary Advisor Network LLC bought a new stake in shares of 3M (NYSE:MMM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 2,258 shares of the conglomerate's stock, valued at approximately $291,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Investors Asset Management of Georgia Inc. GA ADV boosted its stake in shares of 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock valued at $694,000 after purchasing an additional 67 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in 3M by 1.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after purchasing an additional 70 shares during the period. LaSalle St. Investment Advisors LLC increased its stake in 3M by 2.5% in the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after purchasing an additional 71 shares during the period. Gilbert & Cook Inc. increased its stake in 3M by 1.5% in the 4th quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock worth $659,000 after purchasing an additional 73 shares during the period. Finally, Childress Capital Advisors LLC increased its stake in 3M by 5.1% in the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after purchasing an additional 76 shares during the period. Institutional investors own 65.25% of the company's stock.

3M Stock Performance

Shares of NYSE:MMM traded up $1.11 during midday trading on Thursday, reaching $148.99. 3,824,334 shares of the company's stock traded hands, compared to its average volume of 4,028,156. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a one year low of $96.76 and a one year high of $156.35. The stock has a 50 day moving average of $141.47 and a 200 day moving average of $139.02.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, equities research analysts anticipate that 3M will post 7.8 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.96%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a report on Saturday, May 10th. Barclays boosted their target price on shares of 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their target price on 3M from $165.00 to $140.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup dropped their target price on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and an average target price of $149.29.

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.