First Dallas Securities Inc. Sells 378 Shares of 3M (NYSE:MMM)

First Dallas Securities Inc. lowered its position in shares of 3M (NYSE:MMM) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,343 shares of the conglomerate’s stock after selling 378 shares during the quarter. First Dallas Securities Inc.’s holdings in 3M were worth $1,141,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MMM. CVA Family Office LLC boosted its stake in shares of 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after purchasing an additional 79 shares during the last quarter. Harbour Investments Inc. grew its stake in 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after purchasing an additional 81 shares during the period. Fortis Capital Advisors LLC increased its holdings in 3M by 2.9% in the second quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after purchasing an additional 84 shares in the last quarter. KMG Fiduciary Partners LLC lifted its stake in 3M by 0.5% in the third quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares during the period. Finally, TCV Trust & Wealth Management Inc. boosted its holdings in shares of 3M by 1.3% during the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock worth $884,000 after buying an additional 84 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their target price for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Mizuho upped their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Morgan Stanley initiated coverage on 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 target price on the stock. Finally, Barclays lifted their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.87.

3M Stock Performance

NYSE MMM opened at $131.49 on Tuesday. The firm has a market cap of $71.60 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.20 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The company’s 50 day moving average is $131.78 and its 200-day moving average is $121.65. 3M has a 12-month low of $75.40 and a 12-month high of $141.34.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 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 analyst estimates of $6.06 billion. During the same period in the previous year, the business earned $2.68 EPS. The business’s revenue for the quarter was down 24.3% on a year-over-year basis. Sell-side analysts predict that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.13%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

3M Company 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.