Premier Path Wealth Partners LLC Buys 136 Shares of 3M (NYSE:MMM)

Premier Path Wealth Partners LLC boosted its stake in 3M (NYSE:MMM) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,988 shares of the conglomerate’s stock after purchasing an additional 136 shares during the period. Premier Path Wealth Partners LLC’s holdings in 3M were worth $644,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MMM. Folger Nolan Fleming Douglas Capital Management Inc. grew its holdings in shares of 3M by 0.7% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 12,756 shares of the conglomerate’s stock worth $1,647,000 after acquiring an additional 89 shares during the period. Brooklyn Investment Group boosted its position in 3M by 23.3% in the fourth quarter. Brooklyn Investment Group now owns 550 shares of the conglomerate’s stock worth $71,000 after purchasing an additional 104 shares during the last quarter. Whitener Capital Management Inc. grew its stake in shares of 3M by 1.4% during the 4th quarter. Whitener Capital Management Inc. now owns 17,007 shares of the conglomerate’s stock valued at $2,195,000 after purchasing an additional 238 shares during the period. Merit Financial Group LLC increased its position in shares of 3M by 106.8% during the 4th quarter. Merit Financial Group LLC now owns 18,004 shares of the conglomerate’s stock valued at $2,324,000 after purchasing an additional 9,299 shares during the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its stake in shares of 3M by 131.0% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 4,498 shares of the conglomerate’s stock worth $581,000 after purchasing an additional 2,551 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MMM. Bank of America boosted their target price on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price target on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $144.13.

3M Stock Performance

Shares of NYSE MMM opened at $141.02 on Friday. The company has a market cap of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $141.66. 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’s fifty day moving average is $131.24 and its two-hundred day moving average is $127.56.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The business’s revenue was down 24.3% compared to the same quarter last year. As a group, analysts anticipate 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 1.99%. 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.