Ritholtz Wealth Management Buys 2,061 Shares of 3M (NYSE:MMM)

Ritholtz Wealth Management raised its stake in shares of 3M (NYSE:MMMFree Report) by 27.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,689 shares of the conglomerate’s stock after purchasing an additional 2,061 shares during the period. Ritholtz Wealth Management’s holdings in 3M were worth $1,251,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MMM. FSA Wealth Management LLC purchased a new stake in 3M in the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC increased its stake in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. raised its position in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. ORG Partners LLC lifted its stake in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 1.3 %

Shares of MMM opened at $141.02 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The business has a fifty day moving average of $131.24 and a 200 day moving average of $127.56. The company has a market cap of $76.80 billion, a PE ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $141.66.

3M (NYSE:MMMGet Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (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 analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business’s revenue was down 24.3% on a year-over-year basis. During the same quarter last year, the business earned $2.68 EPS. On average, sell-side analysts expect that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. 3M’s dividend payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Wednesday. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.13.

Read Our Latest Stock Report on 3M

About 3M

(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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