San Luis Wealth Advisors LLC Has $1.04 Million Holdings in 3M (NYSE:MMM)

San Luis Wealth Advisors LLC lowered its holdings in 3M (NYSE:MMM - Free Report) by 81.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,043 shares of the conglomerate's stock after selling 36,007 shares during the quarter. San Luis Wealth Advisors LLC's holdings in 3M were worth $1,038,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MMM. CVA Family Office LLC increased its position in 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate's stock valued at $571,000 after acquiring an additional 79 shares in the last quarter. Wynn Capital LLC grew its stake in shares of 3M by 0.7% during the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate's stock valued at $1,509,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of 3M by 0.8% in the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate's stock valued at $1,443,000 after purchasing an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC raised its position in 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate's stock worth $2,213,000 after purchasing an additional 84 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. lifted its holdings in 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate's stock worth $884,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MMM shares. JPMorgan Chase & Co. dropped their target price on 3M from $165.00 to $162.00 and set an "overweight" rating for the company in a research report on Wednesday. UBS Group upgraded shares of 3M from a "neutral" rating to a "buy" rating and upped their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Barclays lowered their price target on shares of 3M from $165.00 to $161.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada dropped their target price 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, 3M currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.13.

3M Trading Up 0.6 %

Shares of 3M stock traded up $0.86 during trading hours on Wednesday, hitting $138.07. The company's stock had a trading volume of 4,113,224 shares, compared to its average volume of 3,810,175. The company has a market capitalization of $75.19 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The stock has a 50 day moving average of $130.90 and a 200 day moving average of $127.12. 3M has a 12 month low of $75.40 and a 12 month high of $141.34.

3M (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to analysts' expectations of $6.06 billion. During the same period in the prior year, the business earned $2.68 EPS. 3M's revenue for the quarter was down 24.3% compared to the same quarter last year. Analysts predict that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.03%. 3M's dividend payout ratio is currently 35.35%.

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.