Armstrong Henry H Associates Inc. Has $1.50 Million Stock Holdings in 3M (NYSE:MMM)

Armstrong Henry H Associates Inc. decreased its position in shares of 3M (NYSE:MMM) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,593 shares of the conglomerate’s stock after selling 1,200 shares during the period. 3M accounts for approximately 0.1% of Armstrong Henry H Associates Inc.’s portfolio, making the stock its 29th biggest position. Armstrong Henry H Associates Inc.’s holdings in 3M were worth $1,497,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its holdings in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after acquiring an additional 1,250,491 shares in the last quarter. Electron Capital Partners LLC acquired a new position in shares of 3M during the 2nd quarter valued at about $76,732,000. Jennison Associates LLC bought a new position in shares of 3M in the 3rd quarter valued at approximately $82,208,000. Finally, Parsifal Capital Management LP lifted its holdings in 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock worth $112,107,000 after purchasing an additional 526,194 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 2.5 %

Shares of MMM opened at $134.54 on Tuesday. The stock has a fifty day moving average price of $130.69 and a two-hundred day moving average price of $126.87. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The company has a market cap of $73.26 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 2.15 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $141.34.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The business 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 firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.68 earnings per share. Analysts predict that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

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

Analysts Set New Price Targets

MMM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted 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. Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Bank of America upped their target price on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.33.

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.