Laurel Wealth Advisors LLC Has $1.30 Million Position in 3M (NYSE:MMM)

Laurel Wealth Advisors LLC decreased its holdings in shares of 3M (NYSE:MMM) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,038 shares of the conglomerate’s stock after selling 260 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in 3M were worth $1,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 3M by 38.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,728 shares of the conglomerate’s stock worth $610,000 after buying an additional 1,318 shares during the last quarter. Park Avenue Securities LLC raised its holdings in 3M by 164.4% in the 4th quarter. Park Avenue Securities LLC now owns 16,356 shares of the conglomerate’s stock valued at $2,111,000 after acquiring an additional 10,169 shares during the period. Kathmere Capital Management LLC boosted its holdings in shares of 3M by 3.5% during the fourth quarter. Kathmere Capital Management LLC now owns 5,797 shares of the conglomerate’s stock worth $748,000 after acquiring an additional 197 shares during the period. Assenagon Asset Management S.A. grew its position in shares of 3M by 78.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 40,029 shares of the conglomerate’s stock valued at $5,167,000 after purchasing an additional 17,564 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of 3M by 21.5% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 8,791 shares of the conglomerate’s stock worth $1,135,000 after purchasing an additional 1,553 shares during the period. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. 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. Wells Fargo & Company lifted their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Royal Bank of Canada cut their price objective on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. Finally, Barclays lowered their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.33.

3M Trading Up 2.0 %

Shares of MMM opened at $137.35 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. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The firm has a market cap of $74.80 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 2.15 and a beta of 0.95. The business’s fifty day moving average is $130.90 and its 200-day moving average is $127.12.

3M (NYSE:MMM) last released its 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 firm had revenue of $6.29 billion for 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 business’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.68 earnings per share. Equities analysts anticipate that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.04%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 35.35%.

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.