Wintrust Investments LLC Takes Position in 3M (NYSE:MMM)

Wintrust Investments LLC acquired a new stake in 3M (NYSE:MMM) in the 2nd quarter, Holdings Channel reports. The fund acquired 4,411 shares of the conglomerate’s stock, valued at approximately $441,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Markel Corp lifted its stake in 3M by 6.5% during the first quarter. Markel Corp now owns 269,750 shares of the conglomerate’s stock valued at $40,161,000 after purchasing an additional 16,550 shares during the last quarter. Axiom Financial Strategies LLC lifted its stake in 3M by 5.3% during the first quarter. Axiom Financial Strategies LLC now owns 6,513 shares of the conglomerate’s stock valued at $942,000 after purchasing an additional 326 shares during the last quarter. Dakota Wealth Management acquired a new stake in 3M during the first quarter valued at approximately $246,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in 3M by 17.6% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,532 shares of the conglomerate’s stock valued at $972,000 after purchasing an additional 977 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of 3M by 73.0% in the 1st quarter. Covestor Ltd now owns 1,275 shares of the conglomerate’s stock valued at $190,000 after acquiring an additional 538 shares in the last quarter. 65.24% of the stock is currently owned by institutional investors.

3M Stock Performance

NYSE:MMM opened at $95.35 on Friday. 3M has a 1 year low of $85.35 and a 1 year high of $130.02. The firm’s fifty day simple moving average is $93.09 and its 200 day simple moving average is $99.01. The company has a current ratio of 1.05, a quick ratio of 0.72 and a debt-to-equity ratio of 2.72. The firm has a market capitalization of $52.66 billion, a PE ratio of -7.14, a PEG ratio of 1.43 and a beta of 0.98.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.34. 3M had a negative net margin of 22.59% and a positive return on equity of 47.18%. The firm had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $7.99 billion. During the same period in the prior year, the firm earned $2.69 EPS. The business’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that 3M will post 9.12 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 17th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend is Thursday, November 16th. 3M’s dividend payout ratio (DPR) is presently -44.94%.

Wall Street Analyst Weigh In

MMM has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of 3M from $115.00 to $93.00 in a research report on Monday, October 9th. Mizuho restated a “neutral” rating and issued a $120.00 price target on shares of 3M in a research report on Tuesday, August 29th. Barclays upped their price target on shares of 3M from $96.00 to $98.00 and gave the company an “underweight” rating in a research report on Wednesday, October 25th. Morgan Stanley upgraded shares of 3M from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $102.00 to $113.00 in a research report on Thursday, August 31st. Finally, StockNews.com upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M presently has an average rating of “Hold” and an average price target of $104.30.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.