Dakota Wealth Management Reduces Position in 3M (NYSE:MMM)

Dakota Wealth Management decreased its stake in shares of 3M (NYSE:MMM) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 16,312 shares of the conglomerate’s stock after selling 1,365 shares during the quarter. Dakota Wealth Management’s holdings in 3M were worth $2,106,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in shares of 3M in the third quarter valued at $27,000. Daymark Wealth Partners LLC boosted its holdings 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 acquiring an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. boosted its holdings 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 acquiring an additional 121 shares during the last quarter. ORG Partners LLC boosted its holdings in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares during the last quarter. Finally, True Wealth Design LLC boosted its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MMM. JPMorgan Chase & Co. boosted their price objective on 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Barclays boosted their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Citigroup boosted their price objective on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Up 0.4 %

Shares of 3M stock opened at $149.64 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The firm has a market cap of $81.49 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.42 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $152.08. The business has a 50-day moving average price of $132.09 and a 200 day moving average price of $128.67.

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

3M Dividend Announcement

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