Isthmus Partners LLC lessened its holdings in 3M (NYSE:MMM – Get Rating) by 19.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,165 shares of the conglomerate’s stock after selling 285 shares during the period. Isthmus Partners LLC’s holdings in 3M were worth $207,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Goodwin Investment Advisory purchased a new stake in 3M during the 3rd quarter worth $30,000. Canton Hathaway LLC purchased a new stake in 3M during the 3rd quarter worth $31,000. Avion Wealth increased its stake in 3M by 77.7% during the 3rd quarter. Avion Wealth now owns 183 shares of the conglomerate’s stock worth $32,000 after buying an additional 80 shares during the period. US Asset Management LLC purchased a new stake in 3M during the 3rd quarter worth $40,000. Finally, McIlrath & Eck LLC increased its stake in 3M by 60.8% during the 3rd quarter. McIlrath & Eck LLC now owns 230 shares of the conglomerate’s stock worth $40,000 after buying an additional 87 shares during the period. 66.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MMM opened at $150.46 on Friday. 3M has a fifty-two week low of $139.74 and a fifty-two week high of $208.95. The company has a market cap of $85.64 billion, a PE ratio of 14.87, a P/E/G ratio of 1.52 and a beta of 0.97. The company’s 50-day moving average price is $155.26 and its 200 day moving average price is $170.59. The company has a quick ratio of 1.15, a current ratio of 1.70 and a debt-to-equity ratio of 1.06.
3M (NYSE:MMM – Get Rating) last released its quarterly earnings results on Tuesday, January 25th. The conglomerate reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.28. 3M had a net margin of 16.75% and a return on equity of 40.84%. The company had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the firm earned $2.38 EPS. 3M’s revenue was up .3% on a year-over-year basis. As a group, equities analysts anticipate that 3M will post 10.32 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 12th. Investors of record on Friday, February 18th were issued a $1.49 dividend. This is an increase from 3M’s previous quarterly dividend of $1.48. This represents a $5.96 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Thursday, February 17th. 3M’s payout ratio is presently 58.89%.
Several brokerages have weighed in on MMM. Jefferies Financial Group decreased their price objective on shares of 3M from $186.00 to $161.00 and set a “hold” rating for the company in a report on Tuesday, March 15th. UBS Group decreased their price objective on shares of 3M from $168.00 to $118.00 and set a “sell” rating for the company in a report on Friday, March 11th. Citigroup decreased their price objective on shares of 3M from $190.00 to $175.00 and set a “neutral” rating for the company in a report on Tuesday, February 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of 3M from $189.00 to $182.00 and set a “hold” rating for the company in a report on Tuesday, February 15th. Finally, Morgan Stanley lowered shares of 3M from an “equal weight” rating to an “underweight” rating and set a $150.00 price target for the company. in a report on Thursday, February 17th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $174.73.
About 3M (Get Rating)
3M Company operates as a diversified technology company worldwide. It 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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