Matrix Trust Co Purchases 633 Shares of 3M (NYSE:MMM)

Matrix Trust Co grew its position in shares of 3M (NYSE:MMM) by 602.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 738 shares of the conglomerate’s stock after acquiring an additional 633 shares during the period. Matrix Trust Co’s holdings in 3M were worth $95,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Aprio Wealth Management LLC boosted its stake in 3M by 19.1% in the fourth quarter. Aprio Wealth Management LLC now owns 3,195 shares of the conglomerate’s stock worth $412,000 after buying an additional 513 shares in the last quarter. Czech National Bank boosted its stake in shares of 3M by 5.5% in the 4th quarter. Czech National Bank now owns 118,072 shares of the conglomerate’s stock valued at $15,242,000 after purchasing an additional 6,163 shares in the last quarter. RMR Wealth Builders grew its holdings in shares of 3M by 10.5% during the 4th quarter. RMR Wealth Builders now owns 12,982 shares of the conglomerate’s stock valued at $1,676,000 after purchasing an additional 1,232 shares during the last quarter. Trinity Financial Advisors LLC purchased a new position in 3M in the 4th quarter worth $204,000. Finally, 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 valued at $2,722,000 after buying an additional 312 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MMM has been the topic of several analyst reports. Royal Bank of Canada decreased their price objective on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Barclays cut their target price on shares of 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 upped their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.33.

3M Stock Up 2.5 %

MMM stock opened at $134.54 on Tuesday. The company has a market capitalization of $73.26 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The business’s 50 day moving average price is $130.69 and its two-hundred day moving average price is $126.87. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the company earned $2.68 earnings per share. The firm’s quarterly revenue was down 24.3% compared to the same quarter last year. As a group, analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors 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 2.08%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is currently 35.35%.

3M Company 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.