Oliver Luxxe Assets LLC Has $8 Million Holdings in 3M (NYSE:MMM)

Oliver Luxxe Assets LLC lifted its position in shares of 3M (NYSE:MMM - Free Report) by 38.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 61,966 shares of the conglomerate's stock after purchasing an additional 17,283 shares during the quarter. 3M comprises approximately 1.4% of Oliver Luxxe Assets LLC's holdings, making the stock its 13th largest holding. Oliver Luxxe Assets LLC's holdings in 3M were worth $7,999,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MMM. FSA Wealth Management LLC purchased a new position in 3M in the 3rd quarter worth approximately $27,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. boosted its position in 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 buying an additional 121 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after acquiring an additional 269 shares in the last quarter. Finally, True Wealth Design LLC increased its position in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

3M Trading Up 0.2 %

3M stock traded up $0.21 during midday trading on Monday, reaching $130.08. The stock had a trading volume of 3,066,973 shares, compared to its average volume of 2,863,142. The firm's fifty day simple moving average is $130.12 and its two-hundred day simple moving average is $125.58. 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 has a twelve month low of $75.40 and a twelve month high of $141.34. The firm has a market cap of $70.84 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 2.15 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 earnings per share. 3M's revenue for the quarter was down 24.3% compared to the same quarter last year. Equities analysts anticipate that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.15%. 3M's dividend payout ratio is presently 35.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MMM shares. UBS Group upgraded 3M from a "neutral" rating to a "buy" rating and raised their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Mizuho raised their price target on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Barclays boosted their target price on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Melius raised shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $144.60.

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.