Wilkinson Global Asset Management LLC Buys Shares of 1,833 3M (NYSE:MMM)

Wilkinson Global Asset Management LLC acquired a new stake in 3M (NYSE:MMM) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,833 shares of the conglomerate’s stock, valued at approximately $251,000.

A number of other institutional investors have also made changes to their positions in MMM. CVA Family Office LLC grew its position in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares in the last quarter. Fortis Capital Advisors LLC boosted its position in 3M by 2.9% during the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after purchasing an additional 84 shares during the period. KMG Fiduciary Partners LLC lifted its holdings in 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares in the last quarter. TCV Trust & Wealth Management Inc. boosted its stake in 3M by 1.3% in 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. Finally, Weatherly Asset Management L. P. grew its holdings in 3M by 3.3% during the 3rd quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after buying an additional 86 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

3M stock opened at $133.92 on Thursday. The stock has a market capitalization of $72.93 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.03 and a beta of 0.95. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The company’s fifty day moving average price is $132.83 and its 200 day moving average price is $116.09. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 EPS. As a group, equities research analysts anticipate that 3M will post 7.28 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.09%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MMM shares. Royal Bank of Canada boosted their target price on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 23rd. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Mizuho boosted their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, 3M has a consensus rating of “Hold” and an average price target of $139.27.

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.