Appleton Partners Inc. MA Buys 662 Shares of 3M (NYSE:MMM)

Appleton Partners Inc. MA grew its stake in 3M (NYSE:MMMFree Report) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,274 shares of the conglomerate’s stock after acquiring an additional 662 shares during the quarter. Appleton Partners Inc. MA’s holdings in 3M were worth $358,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Financial Freedom LLC bought a new stake in shares of 3M in the 4th quarter valued at about $25,000. DHJJ Financial Advisors Ltd. bought a new stake in shares of 3M in the 3rd quarter valued at about $28,000. Briaud Financial Planning Inc bought a new stake in shares of 3M in the 3rd quarter valued at about $35,000. Authentikos Wealth Advisory LLC bought a new stake in shares of 3M in the 3rd quarter valued at about $37,000. Finally, VisionPoint Advisory Group LLC increased its stake in shares of 3M by 91.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 215 shares during the last quarter. 65.24% of the stock is owned by institutional investors.

Insider Activity at 3M

In related news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

3M Trading Down 0.9 %

Shares of 3M stock opened at $103.12 on Friday. 3M has a 12-month low of $85.35 and a 12-month high of $113.14. The stock has a market cap of $56.99 billion, a P/E ratio of -8.16, a P/E/G ratio of 1.46 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. The business’s 50 day moving average is $97.34 and its 200-day moving average is $97.87.

3M (NYSE:MMMGet Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the business posted $2.28 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. Equities research analysts predict that 3M will post 9.82 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 5.86%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio is currently -47.82%.

Analyst Upgrades and Downgrades

MMM has been the subject of several research analyst reports. Mizuho decreased their price objective on 3M from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Barclays upgraded 3M from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $98.00 to $107.00 in a research report on Monday, December 4th. Royal Bank of Canada decreased their price objective on 3M from $85.00 to $84.00 and set an “underperform” rating for the company in a research report on Thursday, March 7th. Citigroup decreased their price objective on 3M from $117.00 to $104.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Finally, Wells Fargo & Company decreased their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $105.70.

View Our Latest Report on MMM

3M Company Profile

(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.

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

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