Tradewinds LLC. Has $358,000 Holdings in 3M (NYSE:MMM)

Tradewinds LLC. grew its holdings in shares of 3M (NYSE:MMM) by 11.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,622 shares of the conglomerate’s stock after buying an additional 263 shares during the period. Tradewinds LLC.’s holdings in 3M were worth $358,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Bessemer Group Inc. boosted its position in shares of 3M by 52.5% during the 1st quarter. Bessemer Group Inc. now owns 25,690 shares of the conglomerate’s stock worth $2,725,000 after purchasing an additional 8,849 shares in the last quarter. Lake Street Advisors Group LLC acquired a new stake in 3M in the first quarter valued at approximately $273,000. Shell Asset Management Co. bought a new stake in shares of 3M during the first quarter valued at approximately $517,000. CreativeOne Wealth LLC raised its position in shares of 3M by 51.6% during the first quarter. CreativeOne Wealth LLC now owns 7,544 shares of the conglomerate’s stock worth $800,000 after purchasing an additional 2,567 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in shares of 3M by 25.9% in the 1st quarter. EP Wealth Advisors LLC now owns 14,344 shares of the conglomerate’s stock worth $1,521,000 after purchasing an additional 2,953 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MMM. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their price target for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research report on Tuesday, July 30th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Barclays lifted their price target on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

3M Price Performance

Shares of NYSE:MMM opened at $127.83 on Thursday. The company has a market capitalization of $69.61 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 2.12 and a beta of 0.95. The company’s 50-day moving average is $132.75 and its 200 day moving average is $118.67. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the company earned $2.68 earnings per share. The company’s quarterly revenue was down 24.3% on a year-over-year basis. On average, equities research analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.19%. 3M’s dividend payout ratio is presently 35.35%.

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.