Seizert Capital Partners LLC Has $1.99 Million Stock Holdings in 3M (NYSE:MMM)

Seizert Capital Partners LLC raised its holdings in 3M (NYSE:MMM) by 2.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,587 shares of the conglomerate’s stock after buying an additional 311 shares during the quarter. Seizert Capital Partners LLC’s holdings in 3M were worth $1,994,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MMM. MFA Wealth Advisors LLC acquired a new stake in shares of 3M in the second quarter worth $28,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. raised its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in shares of 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in 3M during the second quarter worth about $33,000. 65.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MMM has been the subject of a number of research reports. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and raised their target price for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Barclays boosted their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.87.

3M Stock Down 1.4 %

NYSE MMM opened at $129.79 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The firm has a market cap of $70.68 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The stock’s 50 day simple moving average is $132.80 and its 200 day simple moving average is $118.01. 3M has a one year low of $75.40 and a one year high of $141.34.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 earnings per share. As a group, sell-side analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. 3M’s payout ratio is presently 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.