MBM Wealth Consultants LLC Boosts Stock Holdings in 3M (NYSE:MMM)

MBM Wealth Consultants LLC increased its position in 3M (NYSE:MMM) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,345 shares of the conglomerate’s stock after acquiring an additional 156 shares during the period. MBM Wealth Consultants LLC’s holdings in 3M were worth $304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC raised its position in 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after buying an additional 1,250,491 shares during the last quarter. Electron Capital Partners LLC bought a new position in 3M during the 2nd quarter valued at about $76,732,000. Jennison Associates LLC purchased a new stake in shares of 3M during the 3rd quarter valued at about $82,208,000. Finally, Parsifal Capital Management LP grew its stake in shares of 3M by 179.0% in the third quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock worth $112,107,000 after acquiring an additional 526,194 shares during the period. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Bank of America lifted their price objective on 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $170.00 in a research report on Wednesday. Finally, Barclays raised their price objective on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, 3M has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Price Performance

MMM stock opened at $146.86 on Wednesday. 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 fifty day moving average price is $131.40 and its 200-day moving average price is $128.20. 3M has a one year low of $75.40 and a one year high of $150.00. The company has a market capitalization of $79.98 billion, a PE ratio of 18.54, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly 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. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. On average, equities analysts anticipate that 3M will post 7.28 EPS for the current fiscal year.

3M Announces Dividend

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 dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.91%. 3M’s dividend payout ratio is currently 35.35%.

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.