Lionshead Wealth Management LLC acquired a new position in shares of 3M (NYSE:MMM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,105 shares of the conglomerate's stock, valued at approximately $272,000.
A number of other institutional investors also recently modified their holdings of MMM. Investors Asset Management of Georgia Inc. GA ADV boosted its position in 3M by 1.3% in the fourth quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after purchasing an additional 67 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of 3M by 1.4% during 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 raised its stake in shares of 3M by 2.5% during 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. boosted its holdings in shares of 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 buying an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC grew its position in 3M by 5.1% during the fourth quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock valued at $203,000 after buying an additional 76 shares during the period. Institutional investors own 65.25% of the company's stock.
3M Price Performance
NYSE MMM traded up $1.11 during trading hours on Thursday, hitting $148.99. The company had a trading volume of 3,824,334 shares, compared to its average volume of 4,028,156. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm has a market capitalization of $80.18 billion, a price-to-earnings ratio of 19.73, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 52 week low of $96.76 and a 52 week high of $156.35. The firm has a 50 day simple moving average of $141.47 and a 200 day simple moving average of $139.02.
3M (NYSE:MMM - Get Free Report) last released 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 analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts expect that 3M will post 7.8 earnings per share for the current year.
3M Dividend Announcement
The firm 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 $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.96%. 3M's dividend payout ratio (DPR) is presently 36.87%.
Wall Street Analyst Weigh In
Several brokerages have commented on MMM. Citigroup lowered their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada lifted their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America upped their price target on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $149.29.
Get Our Latest Analysis on 3M
About 3M
(
Free Report)
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.
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