Quotient Wealth Partners LLC Acquires 226 Shares of 3M (NYSE:MMM)

Quotient Wealth Partners LLC grew its holdings in shares of 3M (NYSE:MMM) by 7.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,475 shares of the conglomerate’s stock after buying an additional 226 shares during the period. Quotient Wealth Partners LLC’s holdings in 3M were worth $475,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MMM. Tributary Capital Management LLC bought a new position in 3M during the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its stake in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the period. MFA Wealth Advisors LLC bought a new position in shares of 3M in the 2nd quarter worth $28,000. Daymark Wealth Partners LLC grew its position 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. Finally, Meeder Asset Management Inc. increased its stake in 3M by 689.7% during 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 in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

Shares of MMM stock opened at $133.46 on Friday. The firm has a market cap of $73.32 billion, a price-to-earnings ratio of 78.51, a P/E/G ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.08 and a current ratio of 1.36. 3M has a 52 week low of $71.12 and a 52 week high of $140.72. The firm’s 50-day simple moving average is $131.20 and its two-hundred day simple moving average is $111.08.

3M (NYSE:MMM) last posted its quarterly earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a net margin of 3.08% and a return on equity of 112.92%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the firm posted $2.17 EPS. As a group, equities analysts forecast that 3M will post 7.24 earnings per share for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is currently 164.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Barclays boosted their price objective on 3M from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday. Royal Bank of Canada upped their price target on 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a report on Monday, July 29th. Finally, Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective on the stock in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $127.64.

Insider Activity at 3M

In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total value of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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.