Comprehensive Financial Consultants Institutional Inc. Invests $205,000 in 3M (NYSE:MMM)

Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of 3M (NYSE:MMM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,501 shares of the conglomerate’s stock, valued at approximately $205,000.

Several other institutional investors have also recently made changes to their positions in MMM. CVA Family Office LLC raised its stake in shares of 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after acquiring an additional 79 shares in the last quarter. Fortis Capital Advisors LLC boosted its stake in 3M by 2.9% in the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after purchasing an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC lifted its stake in shares of 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. TCV Trust & Wealth Management Inc. grew its stake in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after purchasing an additional 84 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its position in 3M by 3.3% in the third quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock valued at $373,000 after buying an additional 86 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 1.0 %

Shares of NYSE MMM opened at $134.34 on Friday. 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 firm has a market cap of $73.16 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.22 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The business’s 50 day moving average is $132.82 and its two-hundred day moving average is $116.50.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm 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%. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. Research analysts predict that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.08%. 3M’s dividend payout ratio (DPR) is 35.35%.

Wall Street Analyst Weigh In

MMM has been the topic of several recent research reports. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. StockNews.com lowered 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Finally, Citigroup increased their price target on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat, 3M presently has a consensus rating of “Hold” and an average target price of $139.27.

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.