Daymark Wealth Partners LLC Acquires 19,552 Shares of 3M (NYSE:MMM)

Daymark Wealth Partners LLC grew its stake in 3M (NYSE:MMM) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 237,297 shares of the conglomerate’s stock after purchasing an additional 19,552 shares during the quarter. Daymark Wealth Partners LLC’s holdings in 3M were worth $31,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. State Street Corp boosted its holdings in 3M by 1.1% during the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after buying an additional 302,900 shares during the last quarter. FMR LLC grew its holdings in 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares in the last quarter. National Pension Service raised its holdings in 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after purchasing an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC boosted 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. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

Shares of MMM stock opened at $149.61 on Friday. The company has a fifty day moving average price of $132.43 and a two-hundred day moving average price of $128.82. 3M has a one year low of $75.40 and a one year high of $152.08. The stock has a market cap of $81.47 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 0.95. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. During the same quarter last year, the company posted $2.42 earnings per share. 3M’s quarterly revenue was down 25.0% on a year-over-year basis. As a group, equities analysts predict that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued 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 1.87%. 3M’s dividend payout ratio is currently 37.09%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays raised their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “underperform” rating and issued a $96.00 price objective on shares of 3M in a research report on Wednesday. Bank of America raised their target price on shares of 3M from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, 3M has an average rating of “Moderate Buy” and an average price target of $148.87.

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.