Brighton Jones LLC Has $1.15 Million Holdings in 3M (NYSE:MMM)

Brighton Jones LLC raised its position in 3M (NYSE:MMM) by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,898 shares of the conglomerate’s stock after purchasing an additional 1,872 shares during the quarter. Brighton Jones LLC’s holdings in 3M were worth $1,149,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. CVA Family Office LLC increased its stake in shares of 3M by 1.9% during the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares during the last quarter. Wynn Capital LLC raised its stake in 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares during the period. Harbour Investments Inc. raised its stake in 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 81 shares during the period. KMG Fiduciary Partners LLC lifted its position in shares of 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its stake in shares of 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after acquiring an additional 84 shares during the period. 65.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MMM. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Barclays lifted their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho increased their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Finally, Royal Bank of Canada reissued an “underperform” rating and set a $96.00 price target on shares of 3M in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Down 0.0 %

MMM stock opened at $149.61 on Friday. The company has a market cap of $81.47 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52 week low of $75.40 and a 52 week high of $152.08. The business has a 50-day simple moving average of $132.43 and a 200 day simple moving average of $128.82.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 EPS. Sell-side analysts anticipate that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.87%. 3M’s dividend payout ratio (DPR) is currently 37.09%.

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.