Appleton Partners Inc. MA Has $285,000 Holdings in 3M (NYSE:MMM)

Appleton Partners Inc. MA reduced its holdings in 3M (NYSE:MMMFree Report) by 17.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,689 shares of the conglomerate’s stock after selling 585 shares during the period. Appleton Partners Inc. MA’s holdings in 3M were worth $285,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Livelsberger Financial Advisory acquired a new position in shares of 3M during the 4th quarter worth about $35,000. CGC Financial Services LLC raised its holdings in 3M by 89.9% in the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares during the period. Cape Investment Advisory Inc. grew its holdings in shares of 3M by 42.8% in the 4th quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock valued at $42,000 after buying an additional 116 shares during the period. VisionPoint Advisory Group LLC increased its position 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 buying an additional 215 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in 3M in the fourth quarter valued at about $63,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

NYSE MMM traded up $0.67 during trading on Tuesday, reaching $101.20. 844,318 shares of the company’s stock were exchanged, compared to its average volume of 5,560,324. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. The business has a 50 day moving average price of $97.42 and a 200-day moving average price of $99.27. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $106.04.

3M (NYSE:MMMGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The business had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter in the prior year, the business earned $1.97 EPS. As a group, equities research analysts anticipate that 3M will post 7.09 earnings per share for the current year.

3M Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Thursday, May 23rd. 3M’s dividend payout ratio is presently -22.01%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MMM shares. Barclays lifted their price objective on 3M from $112.00 to $118.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. StockNews.com started coverage on shares of 3M in a report on Thursday, June 6th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $111.00 in a report on Wednesday, May 1st. Bank of America raised 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $105.00 to $120.00 in a research report on Friday, June 7th. Finally, Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a research report on Thursday, June 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.58.

Check Out Our Latest Stock Report on 3M

3M Company Profile

(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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