Mirador Capital Partners LP Boosts Position in 3M (NYSE:MMM)

Mirador Capital Partners LP boosted its holdings in 3M (NYSE:MMM) by 4.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,451 shares of the conglomerate’s stock after buying an additional 415 shares during the period. Mirador Capital Partners LP’s holdings in 3M were worth $1,220,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in 3M in the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC raised its stake in shares of 3M by 8.6% during the third 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. raised its stake in shares of 3M by 118.6% during the third 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. ORG Partners LLC raised its stake in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after purchasing an additional 98 shares during the period. Finally, True Wealth Design LLC raised its stake in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MMM. Royal Bank of Canada dropped their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Mizuho boosted their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group raised 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 report on Wednesday, November 13th. Bank of America lifted their price objective on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

3M Trading Up 0.3 %

NYSE:MMM opened at $138.20 on Thursday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The stock’s 50-day moving average is $130.90 and its two-hundred day moving average is $127.12. The stock has a market cap of $75.26 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.03%. 3M’s payout ratio is 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.