3M (NYSE:MMM) Shares Sold by Jamison Private Wealth Management Inc.

Jamison Private Wealth Management Inc. lowered its stake in shares of 3M (NYSE:MMM) by 34.8% during the fourth quarter, Holdings Channel reports. The fund owned 2,105 shares of the conglomerate’s stock after selling 1,125 shares during the quarter. Jamison Private Wealth Management Inc.’s holdings in 3M were worth $272,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. CVA Family Office LLC lifted its position in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after buying an additional 79 shares during the period. Wynn Capital LLC lifted its position in 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after buying an additional 80 shares during the period. Harbour Investments Inc. lifted its position in 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after buying an additional 81 shares during the period. KMG Fiduciary Partners LLC lifted its position in 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after buying an additional 84 shares during the period. Finally, TCV Trust & Wealth Management Inc. lifted its position in 3M by 1.3% during the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Royal Bank of Canada restated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a report on Wednesday, January 22nd. Bank of America raised their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Barclays raised their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, Melius Research upgraded 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Price Performance

Shares of NYSE MMM opened at $149.61 on Monday. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $152.08. The business has a 50 day moving average price of $132.83 and a two-hundred day moving average price of $129.36. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm 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.

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

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders 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 dividend yield of 1.87%. 3M’s payout ratio is 37.09%.

About 3M

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.