3M (NYSE:MMM) Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC raised its holdings in 3M (NYSE:MMM - Free Report) by 58.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,926 shares of the conglomerate's stock after acquiring an additional 8,439 shares during the period. EP Wealth Advisors LLC's holdings in 3M were worth $3,134,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MMM. FSA Wealth Management LLC bought a new position in 3M during the 3rd quarter worth approximately $27,000. MFA Wealth Advisors LLC purchased a new position in shares of 3M in the 2nd quarter valued at approximately $28,000. Daymark Wealth Partners LLC lifted its stake in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. lifted its stake in shares of 3M by 118.6% in the 3rd 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. Finally, Meeder Asset Management Inc. lifted its stake in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 269 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Trading Down 1.2 %

Shares of MMM traded down $1.62 during mid-day trading on Monday, reaching $131.49. 3,166,004 shares of the company's stock traded hands, compared to its average volume of 4,715,082. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The stock has a market cap of $71.60 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.20 and a beta of 0.95. The stock's 50-day moving average is $131.78 and its two-hundred day moving average is $121.65. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $6.06 billion. During the same quarter in the prior year, the firm earned $2.68 earnings per share. 3M's revenue was down 24.3% compared to the same quarter last year. Research analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.13%. 3M's dividend payout ratio (DPR) is presently 35.35%.

Analyst Ratings Changes

Several research firms have recently weighed in on MMM. Wells Fargo & Company boosted their price target on 3M from $130.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Monday, October 7th. Barclays boosted their price target on 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Melius raised 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price objective on 3M from $99.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $144.87.

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.