Beacon Financial Advisory LLC Reduces Stock Position in 3M (NYSE:MMM)

Beacon Financial Advisory LLC trimmed its position in shares of 3M (NYSE:MMM) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,681 shares of the conglomerate’s stock after selling 216 shares during the quarter. Beacon Financial Advisory LLC’s holdings in 3M were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MMM. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the 2nd quarter valued at about $28,000. Daymark Wealth Partners LLC grew its position in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. increased its holdings in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the last quarter. Meeder Asset Management Inc. raised its position in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the period. Finally, TruNorth Capital Management LLC bought a new stake in shares of 3M during the 2nd quarter valued at $33,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MMM has been the topic of several analyst reports. StockNews.com downgraded 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays boosted their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Tuesday, July 30th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research report on Tuesday, October 22nd. Finally, Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, 3M presently has a consensus rating of “Hold” and an average price target of $139.27.

3M Stock Up 0.5 %

Shares of NYSE:MMM opened at $126.53 on Wednesday. The company has a market cap of $68.90 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 2.05 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a 50-day moving average price of $132.78 and a 200 day moving average price of $115.97.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.68 EPS. As a group, equities research analysts predict that 3M will post 7.28 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.21%. 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.