Wealthcare Advisory Partners LLC Decreases Stock Holdings in 3M (NYSE:MMM)

Wealthcare Advisory Partners LLC lessened its holdings in 3M (NYSE:MMM) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,413 shares of the conglomerate’s stock after selling 447 shares during the period. Wealthcare Advisory Partners LLC’s holdings in 3M were worth $2,764,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MMM. FMR LLC grew its position in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after acquiring an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of 3M by 11,601.2% during the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Electron Capital Partners LLC purchased a new position in shares of 3M in the second quarter valued at $76,732,000. Jennison Associates LLC acquired a new stake in 3M during the 3rd quarter valued at $82,208,000. Finally, Parsifal Capital Management LP increased its stake in 3M by 179.0% during the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock worth $112,107,000 after buying an additional 526,194 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. Barclays lowered their price objective on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada decreased their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their price target 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

3M Trading Up 1.3 %

NYSE MMM opened at $141.02 on Friday. The firm has a market capitalization of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $141.66. The company has a 50-day simple moving average of $131.11 and a 200-day simple moving average of $127.28. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

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

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 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.