RMR Wealth Builders Purchases 1,232 Shares of 3M (NYSE:MMM)

RMR Wealth Builders lifted its stake in 3M (NYSE:MMM) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,982 shares of the conglomerate’s stock after acquiring an additional 1,232 shares during the period. RMR Wealth Builders’ holdings in 3M were worth $1,676,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp lifted its position in shares of 3M by 1.1% in the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock worth $3,717,503,000 after acquiring an additional 302,900 shares during the period. FMR LLC boosted its stake in 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares in the last quarter. Pacer Advisors Inc. increased its holdings in 3M by 2.0% in the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate’s stock valued at $506,135,000 after buying an additional 97,340 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after buying an additional 43,942 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of 3M by 18.6% during the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after acquiring an additional 396,773 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Trading Down 2.5 %

Shares of MMM traded down $3.40 during trading hours on Friday, hitting $131.13. 4,661,671 shares of the stock traded hands, compared to its average volume of 3,503,766. The business has a fifty day moving average of $130.44 and a 200-day moving average of $126.11. The firm has a market capitalization of $71.41 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same quarter in the previous year, the firm posted $2.68 earnings per share. The business’s revenue was down 24.3% on a year-over-year basis. Analysts expect that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research report on Friday, January 3rd. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Bank of America upped their price target on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Melius raised shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.33.

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.