Brookstone Capital Management Decreases Stake in 3M (NYSE:MMM)

Brookstone Capital Management lessened its holdings in 3M (NYSE:MMM - Free Report) by 87.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,610 shares of the conglomerate's stock after selling 92,378 shares during the period. Brookstone Capital Management's holdings in 3M were worth $1,757,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. CVA Family Office LLC lifted its stake 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 buying an additional 79 shares in the last quarter. Harbour Investments Inc. raised 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 worth $1,443,000 after acquiring an additional 81 shares during the last quarter. KMG Fiduciary Partners LLC lifted its position in shares of 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate's stock valued at $2,213,000 after acquiring an additional 84 shares in the last quarter. TCV Trust & Wealth Management Inc. increased its position 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 purchasing an additional 84 shares in the last quarter. Finally, Weatherly Asset Management L. P. raised its stake in 3M by 3.3% in the 3rd quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate's stock valued at $373,000 after purchasing an additional 86 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Trading Up 1.0 %

Shares of 3M stock traded up $1.41 during trading hours on Thursday, hitting $139.19. The company's stock had a trading volume of 4,121,698 shares, compared to its average volume of 3,841,458. 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 company has a market capitalization of $75.79 billion, a PE ratio of 17.57, a P/E/G ratio of 2.01 and a beta of 0.95. The business has a fifty day moving average of $130.99 and a 200 day moving average of $127.20. 3M has a 1-year low of $75.40 and a 1-year high of $141.34.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS 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 analyst estimates of $6.06 billion. During the same period last year, the company posted $2.68 earnings per share. The firm's revenue was down 24.3% compared to the same quarter last year. As a group, equities 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 issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, November 15th. 3M's dividend payout ratio is presently 35.35%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MMM. Royal Bank of Canada decreased their price target on shares of 3M from $100.00 to $96.00 and set an "underperform" rating on the stock in a research note on Friday, January 3rd. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Mizuho increased their price target on 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Finally, Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 price objective for the company in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, 3M presently 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.