Seizert Capital Partners LLC Has $1.99 Million Position in 3M (NYSE:MMM)

Seizert Capital Partners LLC raised its stake in 3M (NYSE:MMM) by 2.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,587 shares of the conglomerate’s stock after acquiring an additional 311 shares during the period. Seizert Capital Partners LLC’s holdings in 3M were worth $1,994,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC boosted its position in 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares during the last quarter. Stonegate Investment Group LLC raised its holdings in 3M by 5.6% in the 3rd 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 in the last quarter. Ausdal Financial Partners Inc. grew its stake in 3M by 6.7% during the second quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after buying an additional 249 shares in the last quarter. Candriam S.C.A. boosted its holdings in shares of 3M by 19.2% in the 2nd quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock valued at $3,931,000 after purchasing an additional 6,185 shares in the last quarter. Finally, True Vision MN LLC bought a new position in shares of 3M in the second quarter worth about $512,000. 65.25% of the stock is currently owned by institutional investors.

3M Stock Down 1.4 %

MMM opened at $129.79 on Friday. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a one year low of $75.40 and a one year high of $141.34. The firm has a market capitalization of $70.68 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a fifty day moving average price of $132.80 and a 200-day moving average price of $118.01.

3M (NYSE:MMM) last announced its 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. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. Equities research analysts expect that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid 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 2.16%. 3M’s dividend payout ratio is presently 35.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MMM shares. Morgan Stanley started coverage on shares of 3M in a report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target on the stock. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, July 30th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the company from $130.00 to $184.00 in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.