USA Financial Formulas Purchases Shares of 6,320 3M (NYSE:MMM)

USA Financial Formulas purchased a new stake in 3M (NYSE:MMM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,320 shares of the conglomerate's stock, valued at approximately $816,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BluePath Capital Management LLC raised its holdings in shares of 3M by 21.8% in the fourth quarter. BluePath Capital Management LLC now owns 6,405 shares of the conglomerate's stock worth $862,000 after acquiring an additional 1,145 shares during the last quarter. Peak Financial Advisors LLC acquired a new position in 3M in the 4th quarter valued at about $2,891,000. Meyer Handelman Co. raised its stake in 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate's stock valued at $25,511,000 after purchasing an additional 2,678 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in 3M by 38.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 4,728 shares of the conglomerate's stock valued at $610,000 after purchasing an additional 1,318 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of 3M by 164.4% during the 4th quarter. Park Avenue Securities LLC now owns 16,356 shares of the conglomerate's stock worth $2,111,000 after purchasing an additional 10,169 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Up 1.1 %

Shares of NYSE MMM traded up $1.45 on Thursday, hitting $139.23. The company had a trading volume of 2,764,992 shares, compared to its average volume of 3,690,855. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The firm has a market capitalization of $75.82 billion, a P/E ratio of 17.57, a PEG ratio of 2.01 and a beta of 0.95. The business has a 50 day moving average of $130.90 and a two-hundred day moving average of $127.12.

3M (NYSE:MMM - Get Free Report) last issued 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. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm's revenue was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.68 EPS. As a group, equities research analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, November 15th. 3M's dividend payout ratio is presently 35.35%.

Wall Street Analyst Weigh In

MMM has been the subject of several analyst reports. Melius Research upgraded 3M from a "hold" rating to a "buy" rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Bank of America upped their target price on 3M from $143.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Barclays decreased their price target on 3M from $165.00 to $161.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and upped their price objective for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. 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 given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $144.13.

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.