Hummer Financial Advisory Services Inc Has $728,000 Stock Holdings in 3M (NYSE:MMM)

Hummer Financial Advisory Services Inc trimmed its holdings in shares of 3M (NYSE:MMM) by 1.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,636 shares of the conglomerate’s stock after selling 100 shares during the quarter. Hummer Financial Advisory Services Inc’s holdings in 3M were worth $728,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC increased its position in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Electron Capital Partners LLC acquired a new position in 3M during the second quarter worth $76,732,000. Jennison Associates LLC bought a new position in 3M in the third quarter valued at $82,208,000. Finally, Parsifal Capital Management LP lifted its position in 3M by 179.0% during the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock worth $112,107,000 after buying an additional 526,194 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MMM shares. Bank of America raised their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada dropped their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Barclays decreased their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $144.33.

3M Stock Performance

MMM opened at $134.54 on Tuesday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The business has a fifty day simple moving average of $130.69 and a 200 day simple moving average of $126.87. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The company has a market capitalization of $73.26 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the company posted $2.68 earnings per share. 3M’s revenue was down 24.3% compared to the same quarter last year. Research analysts expect that 3M will post 7.27 EPS for the current 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 given a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. 3M’s payout ratio is 35.35%.

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.