Investment Advisory Group LLC Sells 100 Shares of 3M (NYSE:MMM)

Investment Advisory Group LLC lessened its holdings in shares of 3M (NYSE:MMM) by 5.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,601 shares of the conglomerate’s stock after selling 100 shares during the period. Investment Advisory Group LLC’s holdings in 3M were worth $207,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Alpha LLC purchased a new stake in 3M in the fourth quarter worth $215,000. MBM Wealth Consultants LLC increased its position in shares of 3M by 7.1% during the fourth quarter. MBM Wealth Consultants LLC now owns 2,345 shares of the conglomerate’s stock valued at $304,000 after buying an additional 156 shares during the period. Simon Quick Advisors LLC raised its stake in 3M by 47.2% in the fourth quarter. Simon Quick Advisors LLC now owns 3,316 shares of the conglomerate’s stock worth $428,000 after buying an additional 1,063 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in 3M by 14.9% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 448,646 shares of the conglomerate’s stock worth $57,916,000 after buying an additional 58,086 shares during the period. Finally, Exchange Bank boosted its position in 3M by 7.9% during the 4th quarter. Exchange Bank now owns 3,410 shares of the conglomerate’s stock valued at $440,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Bank of America raised their price objective on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Melius Research raised 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 boosted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Citigroup upped their price objective on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, 3M presently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Price Performance

Shares of NYSE:MMM opened at $146.86 on Wednesday. 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 firm has a market cap of $79.98 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. The business has a 50-day simple moving average of $131.73 and a two-hundred day simple moving average of $128.53. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $150.00.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. On average, analysts expect that 3M will post 7.28 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 dividend yield of 1.91%. The ex-dividend date of this dividend was 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.