Peak Financial Advisors LLC Invests $2.89 Million in 3M (NYSE:MMM)

Peak Financial Advisors LLC bought a new stake in 3M (NYSE:MMM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 22,396 shares of the conglomerate's stock, valued at approximately $2,891,000. 3M accounts for approximately 1.5% of Peak Financial Advisors LLC's portfolio, making the stock its 24th biggest holding.

Several other institutional investors also recently made changes to their positions in MMM. State Street Corp lifted its stake in shares of 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate's stock valued at $3,717,503,000 after purchasing an additional 302,900 shares during the period. FMR LLC boosted 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 purchasing an additional 4,212,409 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of 3M by 2.0% during the 2nd quarter. Pacer Advisors Inc. now owns 4,952,878 shares of the conglomerate's stock worth $506,135,000 after buying an additional 97,340 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate's stock worth $521,596,000 after buying an additional 43,942 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in 3M by 18.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate's stock valued at $258,686,000 after acquiring an additional 396,773 shares during the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Up 0.6 %

Shares of MMM traded up $0.86 during trading hours on Wednesday, hitting $138.07. The stock had a trading volume of 2,933,336 shares, compared to its average volume of 3,610,671. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The firm has a market cap of $75.19 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.15 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The company's fifty day simple moving average is $130.90 and its 200 day simple moving average is $127.12.

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, 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 company had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same period last year, the business posted $2.68 EPS. The company's quarterly revenue was down 24.3% compared to the same quarter last year. Equities research analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MMM shares. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Melius Research raised 3M from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. Bank of America increased their price objective on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, October 7th. 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, 3M has an average rating of "Moderate Buy" and a consensus 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.