6,320 Shares in 3M (NYSE:MMM) Purchased by USA Financial Formulas

USA Financial Formulas bought a new stake in shares of 3M (NYSE:MMM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,320 shares of the conglomerate’s stock, valued at approximately $816,000.

Other large investors have also modified their holdings of the company. American Century Companies Inc. lifted its position in shares of 3M by 0.8% during the second quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock valued at $8,396,000 after buying an additional 650 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of 3M by 1.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 529,892 shares of the conglomerate’s stock valued at $54,150,000 after purchasing an additional 8,301 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in 3M by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,940,202 shares of the conglomerate’s stock worth $198,298,000 after buying an additional 11,315 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in 3M by 16.6% in the second quarter. Citizens Financial Group Inc. RI now owns 15,815 shares of the conglomerate’s stock valued at $1,616,000 after buying an additional 2,251 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in shares of 3M by 17.3% during the second quarter. Moors & Cabot Inc. now owns 14,403 shares of the conglomerate’s stock worth $1,472,000 after acquiring an additional 2,129 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.6 %

Shares of 3M stock opened at $138.07 on Thursday. The company has a market capitalization of $75.19 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.01 and a beta of 0.95. The company has a 50 day moving average of $130.90 and a 200 day moving average of $127.12. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

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

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.03%. 3M’s dividend payout ratio (DPR) is 35.35%.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of research analyst reports. Barclays dropped their price objective 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. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.13.

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.