Brady Martz Wealth Solutions LLC Takes $887,000 Position in 3M (NYSE:MMM)

Brady Martz Wealth Solutions LLC purchased a new position in shares of 3M (NYSE:MMM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,468 shares of the conglomerate’s stock, valued at approximately $887,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its holdings in 3M by 16.2% during the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after purchasing an additional 20,421 shares during the last quarter. Franklin Resources Inc. lifted its position in 3M by 26.8% during the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after acquiring an additional 178,450 shares during the last quarter. Meyer Handelman Co. lifted its position in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after acquiring an additional 2,678 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after purchasing an additional 5,210 shares during the period. Finally, Stonegate Investment Group LLC lifted its holdings in 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 1.3 %

Shares of NYSE MMM opened at $141.02 on Friday. The company has a 50 day simple moving average of $131.24 and a 200 day simple moving average of $127.56. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a 1 year low of $75.40 and a 1 year high of $141.66. The firm has a market cap of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter last year, the firm earned $2.68 earnings per share. The company’s revenue for the quarter was down 24.3% on a year-over-year basis. On average, research analysts forecast that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Bank of America increased their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.13.

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.