3M (NYSE:MMM) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC grew its holdings in shares of 3M (NYSE:MMM) by 13.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,489 shares of the conglomerate’s stock after purchasing an additional 2,734 shares during the period. HB Wealth Management LLC’s holdings in 3M were worth $3,032,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. American Century Companies Inc. boosted its stake in shares of 3M by 0.8% during the 2nd quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock worth $8,396,000 after acquiring an additional 650 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of 3M by 17.6% during the 2nd quarter. Intech Investment Management LLC now owns 34,758 shares of the conglomerate’s stock worth $3,552,000 after acquiring an additional 5,205 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of 3M by 7.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 489,502 shares of the conglomerate’s stock worth $50,022,000 after acquiring an additional 34,081 shares in the last quarter. AE Wealth Management LLC lifted its stake in 3M by 6.9% in the 2nd quarter. AE Wealth Management LLC now owns 24,322 shares of the conglomerate’s stock valued at $2,485,000 after buying an additional 1,565 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in 3M by 1.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 115,605 shares of the conglomerate’s stock valued at $11,814,000 after buying an additional 1,949 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

NYSE:MMM opened at $141.02 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The company has a market cap of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. The firm’s 50 day moving average is $131.24 and its two-hundred day moving average is $127.74.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue was down 24.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 earnings per share. Analysts expect that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is presently 35.35%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Barclays decreased their price target on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $144.13.

3M Company 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.