3M (NYSE:MMM) Shares Purchased by NorthRock Partners LLC

NorthRock Partners LLC grew its position in 3M (NYSE:MMM - Free Report) by 162.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,155 shares of the conglomerate's stock after acquiring an additional 9,379 shares during the quarter. NorthRock Partners LLC's holdings in 3M were worth $1,956,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wedmont Private Capital boosted its holdings in shares of 3M by 19.3% during the 4th quarter. Wedmont Private Capital now owns 2,951 shares of the conglomerate's stock worth $387,000 after purchasing an additional 477 shares during the last quarter. Miracle Mile Advisors LLC boosted its stake in 3M by 310.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 6,552 shares of the conglomerate's stock worth $846,000 after buying an additional 4,954 shares during the last quarter. Marcum Wealth LLC boosted its stake in 3M by 40.7% during the fourth quarter. Marcum Wealth LLC now owns 2,190 shares of the conglomerate's stock worth $283,000 after buying an additional 634 shares during the last quarter. Wynn Capital LLC increased its stake in shares of 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate's stock worth $1,509,000 after acquiring an additional 80 shares during the last quarter. Finally, Accurate Wealth Management LLC increased its stake in shares of 3M by 1.9% in the 4th quarter. Accurate Wealth Management LLC now owns 8,585 shares of the conglomerate's stock worth $1,127,000 after acquiring an additional 160 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

MMM stock traded up $4.37 during trading on Friday, hitting $153.11. The company had a trading volume of 3,556,311 shares, compared to its average volume of 4,005,171. The firm has a 50-day moving average price of $141.60 and a 200-day moving average price of $139.40. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market cap of $82.40 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 3M has a 1-year low of $96.76 and a 1-year high of $156.35.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion for 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%. On average, analysts expect that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.91%. 3M's payout ratio is 36.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MMM shares. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday, May 10th. JPMorgan Chase & Co. upped their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday. Royal Bank of Canada raised their target price on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Finally, Barclays upped their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, 3M presently has an average rating of "Moderate Buy" and an average price target of $152.08.

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.