All Terrain Financial Advisors LLC Trims Stock Position in 3M (NYSE:MMM)

All Terrain Financial Advisors LLC reduced its stake in shares of 3M (NYSE:MMM) by 0.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 13,971 shares of the conglomerate’s stock after selling 130 shares during the period. All Terrain Financial Advisors LLC’s holdings in 3M were worth $1,910,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in shares of 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after purchasing an additional 5,210 shares during the last quarter. Stonegate Investment Group LLC increased 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 buying an additional 13,473 shares during the period. Ausdal Financial Partners Inc. increased 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 buying an additional 249 shares during the period. Candriam S.C.A. increased its stake 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 valued at $3,931,000 after buying an additional 6,185 shares during the period. Finally, True Vision MN LLC purchased a new position in shares of 3M during the second quarter valued at $512,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MMM shares. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and raised their price target for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Citigroup boosted their price objective on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Tuesday, July 30th. Mizuho boosted their price target on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

3M Stock Performance

Shares of NYSE MMM remained flat at $130.32 during mid-day trading on Tuesday. The company had a trading volume of 165,239 shares, compared to its average volume of 4,772,431. 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 stock has a market capitalization of $70.97 billion, a PE ratio of 16.45, a PEG ratio of 2.12 and a beta of 0.95. The business has a fifty day moving average price of $132.48 and a 200-day moving average price of $119.51. 3M has a twelve month low of $75.40 and a twelve month high of $141.34.

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

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, November 15th. 3M’s payout ratio is 35.35%.

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.