IVC Wealth Advisors LLC Sells 222 Shares of 3M (NYSE:MMM)

IVC Wealth Advisors LLC cut its holdings in 3M (NYSE:MMM) by 4.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,398 shares of the conglomerate’s stock after selling 222 shares during the quarter. IVC Wealth Advisors LLC’s holdings in 3M were worth $697,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. CVA Family Office LLC lifted its position 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 worth $571,000 after purchasing an additional 79 shares in the last quarter. Wynn Capital LLC boosted its position in 3M by 0.7% in the 4th quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after buying an additional 80 shares during the last quarter. Harbour Investments Inc. increased its stake in shares of 3M by 0.8% in the 3rd quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock valued at $1,443,000 after buying an additional 81 shares during the period. KMG Fiduciary Partners LLC raised its position in shares of 3M by 0.5% during the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock worth $2,213,000 after acquiring an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. lifted its stake 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 acquiring an additional 84 shares during the period. 65.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research reports. Mizuho upped their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Barclays lifted their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 0.4 %

NYSE:MMM opened at $149.64 on Friday. The company has a market cap of $81.49 billion, a PE ratio of 19.82, a PEG ratio of 2.42 and a beta of 0.95. The stock has a 50-day simple moving average of $132.09 and a 200 day simple moving average of $128.67. 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 52-week low of $75.40 and a 52-week high of $152.08.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 97.19%. The firm’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 earnings per share. On average, sell-side analysts expect that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.87%. 3M’s payout ratio is presently 37.09%.

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.