Exchange Bank Raises Holdings in 3M (NYSE:MMM)

Exchange Bank boosted its position in 3M (NYSE:MMM) by 7.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,410 shares of the conglomerate’s stock after acquiring an additional 250 shares during the period. Exchange Bank’s holdings in 3M were worth $440,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FSA Wealth Management LLC purchased a new position in shares of 3M in the third quarter valued at $27,000. Daymark Wealth Partners LLC boosted its stake in 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 buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. ORG Partners LLC raised its stake in 3M by 44.1% in 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 in the last quarter. Finally, True Wealth Design LLC raised its position in 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 in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM opened at $141.02 on Tuesday. The firm’s 50-day simple moving average is $131.40 and its two-hundred day simple moving average is $128.20. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. The stock has a market cap of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. 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 quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. During the same quarter last year, the company earned $2.42 EPS. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. Analysts anticipate that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed 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. This represents a $2.80 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 35.35%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MMM. JPMorgan Chase & Co. dropped their target price on 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Wednesday, January 15th. Royal Bank of Canada decreased their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research note on Friday, January 3rd. Barclays lowered their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. UBS Group upgraded 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. Finally, Bank of America increased their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average price target of $144.13.

3M 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.