1,800 Shares in 3M (NYSE:MMM) Bought by Hixon Zuercher LLC

Hixon Zuercher LLC bought a new stake in 3M (NYSE:MMM) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,800 shares of the conglomerate’s stock, valued at approximately $246,000.

Several other large investors have also recently bought and sold shares of the company. Ballentine Partners LLC raised its holdings in 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after buying an additional 5,210 shares during the last quarter. Stonegate Investment Group LLC raised its stake in shares of 3M by 5.6% during the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after acquiring an additional 13,473 shares during the last quarter. Ausdal Financial Partners Inc. raised its stake in shares of 3M by 6.7% during the second quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock valued at $408,000 after acquiring an additional 249 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of 3M by 19.2% during the second quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock worth $3,931,000 after purchasing an additional 6,185 shares during the period. Finally, True Vision MN LLC bought a new stake in shares of 3M in the second quarter worth $512,000. 65.25% of the stock is currently owned by institutional investors.

3M Price Performance

Shares of NYSE MMM opened at $126.53 on Wednesday. The firm has a market capitalization of $68.90 billion, a P/E ratio of 15.98, a P/E/G ratio of 2.05 and a beta of 0.95. The firm’s 50-day moving average price is $132.78 and its 200-day moving average price is $115.97. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 1-year low of $75.40 and a 1-year high of $141.34.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share 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 for the quarter, compared to the consensus estimate of $6.06 billion. During the same period in the prior year, the business earned $2.68 EPS. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis. Equities research analysts anticipate that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.21%. 3M’s payout ratio is currently 35.35%.

Analyst Upgrades and Downgrades

MMM has been the subject of several analyst reports. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised 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. Citigroup upped their target price on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a report on Monday, July 29th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Bank of America boosted their price target on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $139.27.

3M 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.