3M (NYSE:MMM) is SilverOak Wealth Management LLC's 10th Largest Position

SilverOak Wealth Management LLC decreased its holdings in shares of 3M (NYSE:MMM - Free Report) by 10.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,981 shares of the conglomerate's stock after selling 9,540 shares during the quarter. 3M accounts for about 2.5% of SilverOak Wealth Management LLC's investment portfolio, making the stock its 10th biggest position. SilverOak Wealth Management LLC's holdings in 3M were worth $11,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LSV Asset Management grew its stake in 3M by 25.3% in the 1st quarter. LSV Asset Management now owns 12,400 shares of the conglomerate's stock worth $1,315,000 after acquiring an additional 2,500 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in 3M by 17.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 114,707 shares of the conglomerate's stock worth $12,167,000 after purchasing an additional 16,722 shares during the period. TCI Wealth Advisors Inc. increased its holdings in 3M by 1.1% during the 1st quarter. TCI Wealth Advisors Inc. now owns 12,251 shares of the conglomerate's stock worth $1,300,000 after purchasing an additional 139 shares during the period. Atomi Financial Group Inc. raised its position in 3M by 72.1% during the 1st quarter. Atomi Financial Group Inc. now owns 5,338 shares of the conglomerate's stock valued at $566,000 after purchasing an additional 2,236 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of 3M by 28.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 23,859 shares of the conglomerate's stock worth $2,531,000 after buying an additional 5,327 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Price Performance

MMM traded up $1.27 during midday trading on Friday, hitting $134.34. 3,466,066 shares of the company traded hands, compared to its average volume of 4,182,127. The company has a market capitalization of $73.16 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.22 and a beta of 0.95. The business has a 50 day simple moving average of $132.82 and a two-hundred day simple moving average of $116.50. 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 has a 52-week low of $75.40 and a 52-week high of $141.34.

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 net margin of 15.37% and a return on equity of 104.66%. The firm 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 EPS. 3M's quarterly revenue was down 24.3% compared to the same quarter last year. On average, equities analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, November 15th. 3M's payout ratio is 35.35%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MMM shares. Melius upgraded 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Melius Research raised shares of 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. Citigroup lifted their price objective on shares of 3M from $100.00 to $133.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Finally, StockNews.com lowered 3M from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $139.27.

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.