1,900 Shares in 3M (NYSE:MMM) Acquired by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management bought a new position in 3M (NYSE:MMM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,900 shares of the conglomerate’s stock, valued at approximately $260,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in shares of 3M in the first quarter worth about $937,000. Geneos Wealth Management Inc. boosted its stake in shares of 3M by 2.0% during the first quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock valued at $562,000 after purchasing an additional 105 shares during the period. Empirical Finance LLC grew its holdings in shares of 3M by 3.5% in the first quarter. Empirical Finance LLC now owns 20,113 shares of the conglomerate’s stock worth $2,133,000 after purchasing an additional 675 shares during the last quarter. LSV Asset Management increased its stake in shares of 3M by 25.3% in the first quarter. LSV Asset Management now owns 12,400 shares of the conglomerate’s stock worth $1,315,000 after buying an additional 2,500 shares during the period. Finally, Deuterium Capital Management LLC bought a new stake in 3M during the 1st quarter valued at $1,265,000. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MMM shares. Royal Bank of Canada boosted their price objective on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $150.00 in a report on Monday, July 29th. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, July 30th. Finally, StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $139.27.

3M Stock Down 0.1 %

Shares of 3M stock traded down $0.16 during midday trading on Thursday, hitting $133.76. The company had a trading volume of 422,202 shares, compared to its average volume of 4,881,947. 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 company has a 50 day moving average of $132.83 and a 200 day moving average of $116.09. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The stock has a market capitalization of $72.84 billion, a P/E ratio of 16.91, a P/E/G ratio of 2.03 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results 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. The company had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.68 EPS. On average, equities analysts predict that 3M will post 7.28 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.09%. 3M’s payout ratio is currently 35.35%.

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.