Brady Martz Wealth Solutions LLC Buys Shares of 6,468 3M (NYSE:MMM)

Brady Martz Wealth Solutions LLC purchased a new stake in shares of 3M (NYSE:MMM - Free Report) during the 4th quarter, according to the company in its most recent 13F 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 also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock valued at $3,717,503,000 after buying an additional 302,900 shares in the last quarter. FMR LLC raised its position 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 acquiring an additional 4,212,409 shares during the period. Pacer Advisors Inc. lifted its holdings in 3M by 2.0% during the second quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate's stock valued at $506,135,000 after purchasing an additional 97,340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 3M by 1.2% in the third 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 purchasing an additional 43,942 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of 3M by 18.6% during the second quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate's stock worth $258,686,000 after purchasing an additional 396,773 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Trading Up 1.3 %

MMM stock traded up $1.84 during midday 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. 3M has a 1-year low of $75.40 and a 1-year high of $141.66. The business has a 50-day simple moving average of $131.24 and a two-hundred day simple moving average of $127.93. The stock has a market capitalization of $76.80 billion, a PE ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. 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 issued its quarterly earnings data 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. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M's revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. On average, sell-side analysts predict that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

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 dividend of $0.70 per share. 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 payout ratio is currently 35.35%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MMM shares. Bank of America lifted their price objective on 3M from $143.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. UBS Group raised 3M from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price objective on 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on shares of 3M from $165.00 to $162.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 15th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of 3M in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $144.13.

3M 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.