Bill Few Associates Inc. Reduces Position in 3M (NYSE:MMM)

Bill Few Associates Inc. lessened its holdings in shares of 3M (NYSE:MMM) by 4.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,273 shares of the conglomerate’s stock after selling 149 shares during the quarter. Bill Few Associates Inc.’s holdings in 3M were worth $422,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. FSA Wealth Management LLC purchased a new stake in 3M during the 3rd quarter worth about $27,000. McClarren Financial Advisors Inc. lifted its holdings in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares in the last quarter. True Wealth Design LLC boosted its position in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares during the period. ORG Partners LLC increased its holdings in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in 3M in the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 1.5 %

Shares of MMM stock opened at $149.14 on Thursday. The business has a 50-day moving average of $132.09 and a 200 day moving average of $128.67. 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 1-year low of $75.40 and a 1-year high of $152.08. The stock has a market capitalization of $81.21 billion, a PE ratio of 19.75, a P/E/G ratio of 2.42 and a beta of 0.95.

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 analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 97.19% and a net margin of 15.71%. The firm had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that 3M will post 7.66 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. Shareholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 37.09%.

Analyst Ratings Changes

Several research firms recently issued reports on MMM. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Company 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.