Strengthening Families & Communities LLC Buys 2,016 Shares of 3M (NYSE:MMM)

Strengthening Families & Communities LLC lifted its stake in shares of 3M (NYSE:MMM) by 9.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,921 shares of the conglomerate’s stock after purchasing an additional 2,016 shares during the quarter. Strengthening Families & Communities LLC’s holdings in 3M were worth $3,133,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new position in 3M in the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC boosted its holdings in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. Meeder Asset Management Inc. boosted its holdings in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC bought a new position in 3M in the 2nd quarter valued at $33,000. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE:MMM opened at $129.79 on Monday. 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 firm has a fifty day moving average price of $132.80 and a 200 day moving average price of $118.15. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The firm has a market cap of $70.68 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM) last issued its 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. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. As a group, sell-side analysts expect that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 annualized dividend and a yield of 2.16%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analysts Set New Price Targets

MMM has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a report on Wednesday, October 23rd. StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.87.

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.