Centaurus Financial Inc. Purchases 323 Shares of 3M (NYSE:MMM)

Centaurus Financial Inc. raised its position in 3M (NYSE:MMM – Get Rating) by 6.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,308 shares of the conglomerate’s stock after purchasing an additional 323 shares during the period. Centaurus Financial Inc.’s holdings in 3M were worth $587,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MMM. Heritage Wealth Management LLC acquired a new position in shares of 3M in the second quarter valued at approximately $41,000. Alaska Permanent Fund Corp boosted its holdings in shares of 3M by 9,440.0% in the third quarter. Alaska Permanent Fund Corp now owns 477 shares of the conglomerate’s stock valued at $53,000 after buying an additional 472 shares during the period. JFS Wealth Advisors LLC boosted its holdings in shares of 3M by 55.1% in the third quarter. JFS Wealth Advisors LLC now owns 490 shares of the conglomerate’s stock valued at $54,000 after buying an additional 174 shares during the period. TD Capital Management LLC acquired a new position in shares of 3M in the third quarter valued at approximately $58,000. Finally, Horan Securities Inc. boosted its holdings in shares of 3M by 33.3% in the third quarter. Horan Securities Inc. now owns 593 shares of the conglomerate’s stock valued at $66,000 after buying an additional 148 shares during the period. Institutional investors own 65.61% of the company’s stock.

3M Price Performance

MMM stock opened at $103.02 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.54 and a debt-to-equity ratio of 0.95. 3M has a 12 month low of $100.27 and a 12 month high of $154.66. The firm has a market cap of $56.71 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.25 and a beta of 0.96. The company’s 50-day moving average price is $114.23 and its two-hundred day moving average price is $118.69.

3M (NYSE:MMM – Get Rating) last released its earnings results on Tuesday, January 24th. The conglomerate reported $2.28 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.06). 3M had a net margin of 16.88% and a return on equity of 39.72%. The firm had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the business earned $2.31 earnings per share. 3M’s quarterly revenue was down 5.9% compared to the same quarter last year. On average, analysts anticipate that 3M will post 8.65 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 12th. Stockholders of record on Friday, February 17th were paid a $1.50 dividend. This is an increase from 3M’s previous quarterly dividend of $1.49. This represents a $6.00 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date was Thursday, February 16th. 3M’s dividend payout ratio (DPR) is presently 59.11%.

Analyst Upgrades and Downgrades

MMM has been the subject of several research analyst reports. Mizuho reduced their price target on shares of 3M from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Thursday, January 26th. Wells Fargo & Company reduced their target price on shares of 3M from $125.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, January 25th. Barclays reduced their target price on shares of 3M from $130.00 to $122.00 and set an “underweight” rating for the company in a report on Wednesday, January 25th. StockNews.com began coverage on shares of 3M in a report on Thursday. They set a “hold” rating for the company. Finally, Citigroup increased their target price on shares of 3M from $117.00 to $126.00 and gave the stock a “neutral” rating in a report on Friday, December 9th. Three analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Hold” and an average price target of $125.92.

About 3M

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.