3M (NYSE:MMM) Shares Purchased by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC boosted its position in shares of 3M (NYSE:MMM) by 39.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,539 shares of the conglomerate’s stock after buying an additional 2,686 shares during the period. Peddock Capital Advisors LLC’s holdings in 3M were worth $1,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. Miracle Mile Advisors LLC boosted its stake in shares of 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 period. Northstar Advisory Group LLC lifted its stake in shares of 3M by 27.3% in the 4th quarter. Northstar Advisory Group LLC now owns 18,829 shares of the conglomerate’s stock worth $2,431,000 after acquiring an additional 4,036 shares during the period. Forza Wealth Management LLC boosted its holdings in shares of 3M by 3.4% in the fourth quarter. Forza Wealth Management LLC now owns 5,347 shares of the conglomerate’s stock valued at $690,000 after acquiring an additional 178 shares in the last quarter. Wedmont Private Capital increased its position in 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 period. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of 3M by 2.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 68,000 shares of the conglomerate’s stock valued at $8,778,000 after buying an additional 1,654 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Mizuho increased their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Bank of America lifted their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.33.

3M Stock Up 2.5 %

NYSE:MMM traded up $3.33 on Monday, reaching $134.54. The stock had a trading volume of 4,206,785 shares, compared to its average volume of 3,634,692. The stock has a market cap of $73.26 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a 50-day moving average of $130.51 and a 200 day moving average of $126.65.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business’s revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 EPS. On average, research analysts predict that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is currently 35.35%.

3M 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.