Atria Wealth Solutions Inc. Has $3.33 Million Stock Holdings in 3M (NYSE:MMM)

Atria Wealth Solutions Inc. reduced its stake in shares of 3M (NYSE:MMMFree Report) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,588 shares of the conglomerate’s stock after selling 176 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in 3M were worth $3,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Financial Freedom LLC acquired a new position in 3M during the fourth quarter worth about $25,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of 3M in the third quarter valued at about $28,000. Briaud Financial Planning Inc bought a new stake in 3M in the third quarter valued at approximately $35,000. Authentikos Wealth Advisory LLC acquired a new stake in 3M during the 3rd quarter valued at approximately $37,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of 3M in the 2nd quarter valued at $47,000. Institutional investors own 65.24% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MMM. JPMorgan Chase & Co. boosted their price objective on 3M from $104.00 to $105.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Citigroup lowered their target price on 3M from $117.00 to $104.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Wells Fargo & Company reduced their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Mizuho reduced their price objective on shares of 3M from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, Royal Bank of Canada raised their price target on shares of 3M from $83.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $106.00.

Get Our Latest Report on 3M

3M Stock Down 0.7 %

Shares of NYSE MMM opened at $93.20 on Friday. 3M has a one year low of $85.35 and a one year high of $116.79. The stock has a market capitalization of $51.48 billion, a P/E ratio of -7.38, a PEG ratio of 1.35 and a beta of 1.02. The firm’s 50 day simple moving average is $103.43 and its two-hundred day simple moving average is $99.80. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76.

3M (NYSE:MMMGet Free Report) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The company had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the firm earned $2.28 earnings per share. 3M’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts expect that 3M will post 9.57 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 annualized dividend and a yield of 6.48%. 3M’s dividend payout ratio is -47.51%.

About 3M

(Free Report)

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.

Read More

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.