3M (NYSE:MMM) Shares Acquired by ORG Partners LLC

ORG Partners LLC increased its position in 3M (NYSE:MMM) by 44.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 320 shares of the conglomerate’s stock after acquiring an additional 98 shares during the period. ORG Partners LLC’s holdings in 3M were worth $41,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MMM. American Century Companies Inc. increased its holdings in shares of 3M by 0.8% in the 2nd quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock worth $8,396,000 after acquiring an additional 650 shares during the period. Oppenheimer & Co. Inc. grew its position in 3M by 35.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 34,513 shares of the conglomerate’s stock valued at $3,527,000 after buying an additional 8,940 shares in the last quarter. Meeder Asset Management Inc. grew its position in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in 3M in the 2nd quarter valued at about $502,000. Finally, Wealthspire Advisors LLC grew its position in 3M by 3.9% in the 2nd quarter. Wealthspire Advisors LLC now owns 11,518 shares of the conglomerate’s stock valued at $1,177,000 after buying an additional 430 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

MMM stock opened at $131.13 on Monday. 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 one year low of $75.40 and a one year high of $141.34. The firm has a market capitalization of $71.41 billion, a PE ratio of 16.56, a P/E/G ratio of 2.15 and a beta of 0.95. The firm has a 50-day moving average of $130.51 and a two-hundred day moving average of $126.65.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during 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 business’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 earnings per share. On average, analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 35.35%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada decreased their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research report on Friday, January 3rd. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their target price on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. Finally, Mizuho raised their price objective 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average price target of $144.33.

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.