Clark & Stuart Inc Purchases New Stake in 3M (NYSE:MMM)

Clark & Stuart Inc acquired a new position in 3M (NYSE:MMM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 74,004 shares of the conglomerate’s stock, valued at approximately $9,553,000. 3M accounts for approximately 7.0% of Clark & Stuart Inc’s investment portfolio, making the stock its biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its holdings in shares of 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after acquiring an additional 79 shares during the period. Harbour Investments Inc. boosted its stake in 3M by 0.8% during the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after purchasing an additional 81 shares during the period. KMG Fiduciary Partners LLC grew its position in 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after purchasing an additional 84 shares during the last quarter. TCV Trust & Wealth Management Inc. raised its holdings in shares of 3M by 1.3% during the third quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after buying an additional 84 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its position in shares of 3M by 3.3% during the third quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock worth $373,000 after buying an additional 86 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

Shares of NYSE MMM opened at $131.13 on Monday. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a market cap of $71.41 billion, a P/E ratio of 16.56, a P/E/G ratio of 2.15 and a beta of 0.95. The business’s 50 day moving average is $130.51 and its two-hundred day moving average is $126.65. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last posted its quarterly earnings data 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 company had revenue of $6.29 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.68 EPS. On average, equities analysts expect that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MMM shares. Wells Fargo & Company lifted their price target on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Barclays cut their price target on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Royal Bank of Canada reduced their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. Finally, Mizuho increased their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.33.

About 3M

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.