Taurus Asset Management LLC Acquires 495 Shares of 3M (NYSE:MMM)

Taurus Asset Management LLC raised its stake in shares of 3M (NYSE:MMM) by 0.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,658 shares of the conglomerate’s stock after buying an additional 495 shares during the period. 3M comprises approximately 1.8% of Taurus Asset Management LLC’s holdings, making the stock its 25th largest position. Taurus Asset Management LLC’s holdings in 3M were worth $18,408,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new position in shares of 3M in the second quarter worth approximately $28,000. Daymark Wealth Partners LLC grew its position in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares during the period. McClarren Financial Advisors Inc. increased its stake in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC purchased a new position in 3M during the second quarter valued at $33,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Royal Bank of Canada upped their price target on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 23rd. Citigroup raised their target price on shares of 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Barclays raised their price objective 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. Finally, Melius Research raised shares of 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.87.

3M Stock Down 1.9 %

Shares of MMM opened at $129.79 on Monday. The firm has a fifty day moving average price of $132.80 and a 200-day moving average price of $118.15. 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 firm has a market capitalization of $70.68 billion, a P/E ratio of 16.39, a P/E/G ratio of 2.15 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping 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 business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the company posted $2.68 earnings per share. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. Equities research analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, November 15th. 3M’s payout ratio is 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.