Trust Co. of Vermont Boosts Stock Holdings in 3M (NYSE:MMM)

Trust Co. of Vermont lifted its position in 3M (NYSE:MMM - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,030 shares of the conglomerate's stock after purchasing an additional 1,925 shares during the quarter. Trust Co. of Vermont's holdings in 3M were worth $6,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC bought a new position in shares of 3M in the third quarter worth about $27,000. McClarren Financial Advisors Inc. boosted its holdings in shares of 3M by 118.6% in the third 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. True Wealth Design LLC grew its stake in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after purchasing an additional 296 shares in the last quarter. ORG Partners LLC raised its position in 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of 3M during the 3rd quarter worth $57,000. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

NYSE MMM traded up $1.84 during mid-day trading on Friday, reaching $141.02. 5,717,193 shares of the stock were exchanged, compared to its average volume of 2,528,391. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a 1 year low of $75.40 and a 1 year high of $141.66. The business's 50 day moving average is $131.24 and its 200-day moving average is $127.74. The company has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion during the quarter, compared to analysts' expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business's revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.68 earnings per share. On average, equities research analysts forecast that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Melius Research upgraded shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Barclays cut their price target on 3M from $165.00 to $161.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Wells Fargo & Company lifted their target price on 3M from $130.00 to $140.00 and gave the company an "equal weight" rating in a research note on Monday, October 7th. Finally, Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.