HM Payson & Co. decreased its position in 3M by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,990 shares of the conglomerate’s stock after selling 2,532 shares during the quarter. HM Payson & Co.’s holdings in 3M were worth $3,302,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of MMM. Financial Freedom LLC bought a new position in 3M in the fourth quarter valued at $25,000. Financial Management Professionals Inc. grew its stake in 3M by 1,538.9% in the first quarter. Financial Management Professionals Inc. now owns 295 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 277 shares in the last quarter. Artemis Wealth Advisors LLC raised its stake in shares of 3M by 1,361.9% during the 1st quarter. Artemis Wealth Advisors LLC now owns 307 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 286 shares in the last quarter. 25 LLC acquired a new stake in shares of 3M in the 1st quarter valued at approximately $33,000. Finally, Retirement Group LLC increased its holdings in 3M by 267.0% during the first quarter. Retirement Group LLC now owns 367 shares of the conglomerate’s stock worth $39,000 after buying an additional 267 shares during the last quarter.
3M (NYSE:MMM) stock opened at $94.79 on Tuesday. The company has a 1 year low of $92.38 and a 1 year high of $133.91. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.44 and a quick ratio of 0.96. The stock has a market cap of $52.32 billion, a price-to-earnings ratio of -33.38, a P/E/G ratio of 1.51 and a beta of 0.96. The company has a 50-day simple moving average of $104.03 and a 200-day simple moving average of $102.48.
3M last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.44. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.88 billion. 3M had a positive return on equity of 38.99% and a negative net margin of 4.43%. 3M’s revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.48 EPS. Research analysts anticipate that 3M will post 8.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Monday, August 21st were issued a $1.50 dividend. The ex-dividend date was Friday, August 18th. This represents a $6.00 dividend on an annualized basis and a yield of 6.33%. 3M’s dividend payout ratio (DPR) is presently -211.27%.
A number of research analysts have recently commented on the stock. VNET Group reissued a “maintains” rating on shares of 3M in a research report on Tuesday, June 27th. Royal Bank of Canada upped their price objective on 3M from $95.00 to $100.00 in a research note on Wednesday, July 26th. UBS Group increased their price target on 3M from $95.00 to $115.00 in a research note on Tuesday, July 25th. Bank of America raised shares of 3M from an “underperform” rating to a “neutral” rating and set a $110.00 target price for the company in a report on Tuesday, July 11th. Finally, HSBC initiated coverage on shares of 3M in a report on Friday, September 15th. They issued a “hold” rating and a $109.00 price target on the stock. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. According to MarketBeat, 3M presently has a consensus rating of “Hold” and a consensus target price of $113.08.
3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.
This article is based on information from: https://www.marketbeat.com/stocks/NYSE/MMM/
