3M (NYSE:MMM) Shares Acquired by HB Wealth Management LLC

HB Wealth Management LLC grew its position in 3M (NYSE:MMM - Free Report) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,489 shares of the conglomerate's stock after acquiring an additional 2,734 shares during the quarter. HB Wealth Management LLC's holdings in 3M were worth $3,032,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MMM. FSA Wealth Management LLC purchased a new position in 3M during the third quarter worth approximately $27,000. Daymark Wealth Partners LLC boosted its position in shares of 3M by 8.6% during the 3rd 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. grew its holdings in shares of 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 purchasing an additional 121 shares during the period. ORG Partners LLC raised its stake in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock worth $41,000 after purchasing an additional 98 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock valued at $42,000 after buying an additional 296 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Stock Performance

Shares of MMM traded up $1.84 during mid-day trading on Monday, hitting $141.02. 5,717,193 shares of the company's stock were exchanged, compared to its average volume of 2,528,391. The firm has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.66. The business's 50 day moving average is $131.24 and its two-hundred day moving average is $127.93. 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 - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period last year, the business posted $2.68 EPS. The company's revenue was down 24.3% on a year-over-year basis. On average, equities analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M's dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MMM. Melius raised 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Mizuho increased their target price on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Barclays cut their target price on 3M from $165.00 to $161.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Weiss Ratings restated a "hold (c)" rating on shares of 3M in a research report on Saturday. Finally, Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.13.

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.