Mirador Capital Partners LP Increases Stock Holdings in 3M (NYSE:MMM)

Mirador Capital Partners LP lifted its stake in shares of 3M (NYSE:MMMFree Report) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,449 shares of the conglomerate’s stock after buying an additional 823 shares during the period. Mirador Capital Partners LP’s holdings in 3M were worth $3,219,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Freedom LLC purchased a new stake in shares of 3M in the 4th quarter valued at about $25,000. DHJJ Financial Advisors Ltd. purchased a new stake in 3M in the 3rd quarter worth approximately $28,000. CGC Financial Services LLC lifted its holdings in 3M by 89.9% in the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares during the period. Briaud Financial Planning Inc purchased a new stake in 3M in the 3rd quarter worth approximately $35,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in 3M in the 3rd quarter worth approximately $37,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Up 1.4 %

NYSE MMM traded up $1.48 during trading hours on Friday, hitting $106.07. 4,386,102 shares of the company were exchanged, compared to its average volume of 6,755,014. The stock has a 50-day moving average price of $96.82 and a 200 day moving average price of $97.83. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a 52 week low of $85.35 and a 52 week high of $113.14. The stock has a market cap of $58.69 billion, a PE ratio of -8.40, a price-to-earnings-growth ratio of 1.50 and a beta of 1.00.

3M (NYSE:MMMGet Free Report) last released its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The firm had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the prior year, the firm posted $2.28 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts forecast that 3M will post 9.77 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 5.69%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio is -47.82%.

Analysts Set New Price Targets

A number of research analysts have recently commented on MMM shares. Citigroup lowered their target price on 3M from $117.00 to $104.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and issued a $105.00 price objective on shares of 3M in a report on Wednesday. Barclays raised 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $111.00 to $126.00 in a report on Tuesday, March 19th. Wells Fargo & Company lowered their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 24th. Finally, StockNews.com assumed coverage on 3M in a research report on Wednesday. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, 3M presently has an average rating of “Hold” and a consensus price target of $107.60.

View Our Latest Analysis on 3M

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

3M Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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