EP Wealth Advisors LLC Has $3.13 Million Stock Holdings in 3M (NYSE:MMM)

EP Wealth Advisors LLC lifted its stake in 3M (NYSE:MMM) by 58.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,926 shares of the conglomerate’s stock after purchasing an additional 8,439 shares during the quarter. EP Wealth Advisors LLC’s holdings in 3M were worth $3,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MMM. Insigneo Advisory Services LLC lifted its position in shares of 3M by 26.0% in the 3rd quarter. Insigneo Advisory Services LLC now owns 4,378 shares of the conglomerate’s stock valued at $598,000 after acquiring an additional 903 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in 3M by 88.7% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 91,451 shares of the conglomerate’s stock valued at $11,606,000 after purchasing an additional 42,978 shares during the period. Wexford Capital LP lifted its holdings in shares of 3M by 19.0% in the third quarter. Wexford Capital LP now owns 2,663 shares of the conglomerate’s stock valued at $364,000 after purchasing an additional 425 shares in the last quarter. Wahed Invest LLC grew its holdings in shares of 3M by 8.9% during the third quarter. Wahed Invest LLC now owns 13,422 shares of the conglomerate’s stock valued at $1,835,000 after buying an additional 1,093 shares in the last quarter. Finally, Soros Fund Management LLC acquired a new position in 3M during the third quarter valued at $4,544,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MMM shares. Barclays raised their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Morgan Stanley started coverage on shares of 3M in a research note on Friday, September 6th. They set an “underweight” rating and a $125.00 target price for the company. JPMorgan Chase & Co. increased their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada boosted their target price on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. Finally, Melius raised 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, 3M has a consensus rating of “Moderate Buy” and an average target price of $144.87.

3M Stock Down 0.2 %

3M stock opened at $133.11 on Monday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The firm has a fifty day moving average price of $131.89 and a two-hundred day moving average price of $121.43. The firm has a market cap of $72.49 billion, a price-to-earnings ratio of 16.81, a P/E/G ratio of 2.16 and a beta of 0.95.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.68 EPS. As a group, analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, November 15th. 3M’s payout ratio is currently 35.35%.

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.