Brave Asset Management Inc. Has $887,000 Stock Position in 3M (NYSE:MMM)

Brave Asset Management Inc. lessened its stake in 3M (NYSE:MMM) by 4.0% in the fourth quarter, Holdings Channel reports. The firm owned 6,870 shares of the conglomerate’s stock after selling 285 shares during the quarter. Brave Asset Management Inc.’s holdings in 3M were worth $887,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. FSA Wealth Management LLC bought a new position in shares of 3M in the 3rd quarter valued at $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 valued at $30,000 after acquiring an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MMM. Bank of America upped their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Barclays reduced their price objective on 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Mizuho lifted their price target on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $144.13.

3M Stock Up 0.6 %

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

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (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 analyst estimates of $6.06 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. Equities analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a dividend of $0.70 per share. 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 is currently 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.