XML Financial LLC Raises Stock Holdings in 3M (NYSE:MMM)

XML Financial LLC increased its position in 3M (NYSE:MMM) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,599 shares of the conglomerate’s stock after purchasing an additional 150 shares during the period. XML Financial LLC’s holdings in 3M were worth $806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Platinum Investment Management Ltd. increased its holdings in shares of 3M by 11.4% in the 1st quarter. Platinum Investment Management Ltd. now owns 1,020 shares of the conglomerate’s stock valued at $108,000 after acquiring an additional 104 shares during the period. Allen Capital Group LLC increased its position in 3M by 0.5% during the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after buying an additional 105 shares in the last quarter. Geneos Wealth Management Inc. increased its position in 3M by 2.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,302 shares of the conglomerate’s stock valued at $562,000 after buying an additional 105 shares in the last quarter. Summit Financial Group Inc. increased its position in 3M by 3.4% during the 1st quarter. Summit Financial Group Inc. now owns 3,316 shares of the conglomerate’s stock valued at $352,000 after buying an additional 110 shares in the last quarter. Finally, Allegheny Financial Group LTD increased its position in 3M by 2.3% during the 4th quarter. Allegheny Financial Group LTD now owns 5,032 shares of the conglomerate’s stock valued at $550,000 after buying an additional 113 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on MMM shares. Deutsche Bank Aktiengesellschaft raised 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 research report on Monday. UBS Group upped their target price on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price on the stock in a research report on Thursday, June 13th. Royal Bank of Canada boosted their price target on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a research note on Monday. Finally, Wells Fargo & Company boosted their price target on 3M from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $123.57.

3M Stock Performance

Shares of MMM traded down $1.10 during mid-day trading on Thursday, reaching $126.45. The company had a trading volume of 5,561,893 shares, compared to its average volume of 5,471,406. 3M has a 52-week low of $71.12 and a 52-week high of $128.65. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $69.97 billion, a P/E ratio of -10.01, a PEG ratio of 2.34 and a beta of 0.95. The stock has a 50 day moving average of $103.44 and a two-hundred day moving average of $99.14.

3M (NYSE:MMM) last issued its earnings results on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. 3M had a return on equity of 112.92% and a net margin of 3.08%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. On average, analysts expect that 3M will post 7.21 earnings per share for the current year.

3M Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were given a dividend of $0.70 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 dividend on an annualized basis and a yield of 2.21%. 3M’s dividend payout ratio is currently -22.01%.

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.