Aprio Wealth Management LLC Buys 513 Shares of 3M (NYSE:MMM)

Aprio Wealth Management LLC increased its stake in 3M (NYSE:MMM) by 19.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,195 shares of the conglomerate’s stock after purchasing an additional 513 shares during the quarter. Aprio Wealth Management LLC’s holdings in 3M were worth $412,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Czech National Bank lifted its position in shares of 3M by 5.5% during the 4th quarter. Czech National Bank now owns 118,072 shares of the conglomerate’s stock valued at $15,242,000 after buying an additional 6,163 shares during the last quarter. RMR Wealth Builders raised its stake in 3M by 10.5% in the 4th quarter. RMR Wealth Builders now owns 12,982 shares of the conglomerate’s stock valued at $1,676,000 after acquiring an additional 1,232 shares during the period. Trinity Financial Advisors LLC purchased a new stake in 3M during the fourth quarter valued at about $204,000. HBW Advisory Services LLC boosted its position in 3M by 1.5% during the fourth quarter. HBW Advisory Services LLC now owns 21,086 shares of the conglomerate’s stock worth $2,722,000 after purchasing an additional 312 shares during the period. Finally, ORG Partners LLC increased its stake in shares of 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

NYSE MMM opened at $134.54 on Tuesday. The company has a 50-day simple moving average of $130.69 and a two-hundred day simple moving average of $126.87. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The firm has a market cap of $73.26 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 2.15 and a beta of 0.95. 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 (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the prior year, the company posted $2.68 EPS. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. On average, equities analysts forecast that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of recent research reports. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Bank of America raised their target price on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and an average target price of $144.33.

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.