Monarch Capital Management Inc. Has $4.19 Million Position in 3M (NYSE:MMM)

Monarch Capital Management Inc. lowered its holdings in shares of 3M (NYSE:MMM) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 32,462 shares of the conglomerate’s stock after selling 215 shares during the period. Monarch Capital Management Inc.’s holdings in 3M were worth $4,191,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. FSA Wealth Management LLC acquired a new position in shares of 3M in the third quarter worth approximately $27,000. Daymark Wealth Partners LLC raised its holdings in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. raised its holdings in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. ORG Partners LLC lifted its position in shares of 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the period. Finally, True Wealth Design LLC boosted its stake in shares of 3M by 2,466.7% in the 3rd 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 last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

MMM has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday. Bank of America lifted their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. 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. Wells Fargo & Company lifted their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada dropped their price target on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.13.

3M Stock Performance

NYSE MMM opened at $141.02 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a fifty day simple moving average of $131.24 and a 200 day simple moving average of $127.56. 3M has a 12-month low of $75.40 and a 12-month high of $141.66. The company has a market cap of $76.80 billion, a P/E ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $6.06 billion. During the same period last year, the company earned $2.68 earnings per share. The business’s revenue was down 24.3% on a year-over-year basis. Sell-side analysts predict that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. 3M’s payout ratio is 35.35%.

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.