3M (NYSE:MMM) Position Raised by Grimes & Company Inc.

Grimes & Company Inc. increased its position in shares of 3M (NYSE:MMM) by 1.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,148 shares of the conglomerate’s stock after buying an additional 125 shares during the quarter. Grimes & Company Inc.’s holdings in 3M were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in 3M in the third quarter worth approximately $27,000. Daymark Wealth Partners LLC grew its position in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in 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 during the last quarter. ORG Partners LLC grew its position in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the last quarter. Finally, True Wealth Design LLC grew its position in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Trading Down 0.0 %

3M stock opened at $149.61 on Friday. The company’s fifty day simple moving average is $132.83 and its 200-day simple moving average is $129.15. 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 12 month low of $75.40 and a 12 month high of $152.08. The stock has a market cap of $81.47 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.46 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 (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter in the previous year, the business earned $2.42 EPS. 3M’s quarterly revenue was down 25.0% compared to the same quarter last year. As a group, sell-side analysts forecast that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The firm 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 dividend yield of 1.87%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is presently 37.09%.

Analyst Ratings Changes

MMM has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. Barclays lifted their price target on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.87.

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.