Ameritas Advisory Services LLC Raises Position in 3M (NYSE:MMM)

Ameritas Advisory Services LLC lifted its position in 3M (NYSE:MMM) by 1.3% in the 4th quarter, Holdings Channel reports. The fund owned 15,636 shares of the conglomerate’s stock after acquiring an additional 195 shares during the quarter. Ameritas Advisory Services LLC’s holdings in 3M were worth $2,018,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. HB Wealth Management LLC raised its holdings in 3M by 13.2% in the fourth quarter. HB Wealth Management LLC now owns 23,489 shares of the conglomerate’s stock worth $3,032,000 after purchasing an additional 2,734 shares in the last quarter. Trust Co. of Vermont increased its stake in shares of 3M by 3.8% in the 4th quarter. Trust Co. of Vermont now owns 53,030 shares of the conglomerate’s stock worth $6,846,000 after acquiring an additional 1,925 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in 3M by 2.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 4,988 shares of the conglomerate’s stock valued at $644,000 after acquiring an additional 136 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in 3M by 0.7% during the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 12,756 shares of the conglomerate’s stock worth $1,647,000 after acquiring an additional 89 shares in the last quarter. Finally, Brooklyn Investment Group grew its holdings in 3M by 23.3% in the fourth quarter. Brooklyn Investment Group now owns 550 shares of the conglomerate’s stock worth $71,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Performance

MMM opened at $141.02 on Tuesday. The company’s 50 day moving average is $131.24 and its 200 day moving average is $127.93. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $76.80 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.66.

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

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. 3M’s dividend payout ratio is 35.35%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research report on Saturday. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a research note on Tuesday, October 22nd. Royal Bank of Canada lowered their price target on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research report on Friday, January 3rd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.