3M (NYSE:MMM) Shares Purchased by Radnor Capital Management LLC

Radnor Capital Management LLC boosted its position in 3M (NYSE:MMM) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,585 shares of the conglomerate’s stock after purchasing an additional 7,625 shares during the period. 3M comprises approximately 0.9% of Radnor Capital Management LLC’s holdings, making the stock its 18th largest position. Radnor Capital Management LLC’s holdings in 3M were worth $5,958,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new stake in 3M in the second quarter valued at about $28,000. Daymark Wealth Partners LLC lifted its position in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. lifted its position in 3M by 118.6% in the third 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. Meeder Asset Management Inc. lifted its position in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in 3M in the second quarter valued at about $33,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MMM shares. Royal Bank of Canada lifted their price target on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, October 23rd. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. Bank of America lifted their price target on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Citigroup lifted their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Finally, Morgan Stanley started coverage on shares of 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, 3M currently has an average rating of “Hold” and a consensus target price of $139.27.

3M Stock Up 0.5 %

MMM stock opened at $126.53 on Wednesday. The stock has a market capitalization of $68.90 billion, a P/E ratio of 15.98, a PEG ratio of 2.05 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a one year low of $75.40 and a one year high of $141.34. The company has a 50 day moving average price of $132.78 and a two-hundred day moving average price of $115.97.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 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 analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 EPS. As a group, sell-side analysts expect that 3M will post 7.28 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

3M Company Profile

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.