Mitchell & Pahl Private Wealth LLC Has $2.80 Million Stock Holdings in 3M (NYSE:MMM)

Mitchell & Pahl Private Wealth LLC grew its holdings in 3M (NYSE:MMMFree Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,650 shares of the conglomerate’s stock after buying an additional 759 shares during the quarter. 3M accounts for approximately 1.3% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 14th biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in 3M were worth $2,795,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MMM. CVA Family Office LLC grew its stake in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares during the last quarter. Wynn Capital LLC boosted its holdings in shares of 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock worth $1,509,000 after acquiring an additional 80 shares during the period. Harbour Investments Inc. grew its position in shares of 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after purchasing an additional 81 shares during the last quarter. KMG Fiduciary Partners LLC increased its stake in shares of 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares during the period. Finally, TCV Trust & Wealth Management Inc. increased its stake in shares of 3M by 1.3% during the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after purchasing an additional 84 shares during the period. 65.25% of the stock is owned by institutional investors.

3M Price Performance

3M stock opened at $141.02 on Tuesday. 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 has a 52 week low of $75.40 and a 52 week high of $141.66. The stock has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. The stock has a fifty day moving average of $131.24 and a 200-day moving average of $127.93.

3M (NYSE:MMMGet Free Report) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.68 earnings per share. On average, sell-side analysts expect that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio is 35.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Barclays lowered their price target on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Bank of America increased their target price on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.13.

Check Out Our Latest Stock Report on MMM

3M Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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