1834 Investment Advisors Co. Has $1.14 Million Stake in 3M (NYSE:MMM)

1834 Investment Advisors Co. reduced its holdings in 3M (NYSE:MMM) by 10.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 8,807 shares of the conglomerate’s stock after selling 1,056 shares during the period. 1834 Investment Advisors Co.’s holdings in 3M were worth $1,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CVA Family Office LLC raised its holdings in 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after acquiring an additional 79 shares in the last quarter. Wynn Capital LLC increased its position in shares of 3M by 0.7% during the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. raised its stake in shares of 3M by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC boosted its holdings in shares of 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. grew its stake in shares of 3M by 1.3% in the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after buying an additional 84 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Stock Down 0.0 %

MMM stock opened at $149.61 on Friday. The business has a 50-day simple moving average of $132.83 and a 200 day simple moving average of $129.15. 3M has a 52 week low of $75.40 and a 52 week high of $152.08. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The company has a market cap of $81.47 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5,770,390 billion. During the same period in the prior year, the company earned $2.42 EPS. 3M’s revenue for the quarter was down 25.0% on a year-over-year basis. Sell-side analysts anticipate that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.87%. 3M’s dividend payout ratio is presently 37.09%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays increased their price target on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Finally, Citigroup increased their price target on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, 3M has an average rating of “Moderate Buy” and a consensus target price of $148.87.

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.