Daymark Wealth Partners LLC Has $31,000 Position in 3M (NYSE:MMM)

Daymark Wealth Partners LLC raised its position in 3M (NYSE:MMM) by 9.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 237,297 shares of the conglomerate’s stock after purchasing an additional 19,552 shares during the period. Daymark Wealth Partners LLC’s holdings in 3M were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Sei Investments Co. grew its position in shares of 3M by 6.7% during the 2nd quarter. Sei Investments Co. now owns 165,119 shares of the conglomerate’s stock worth $16,874,000 after purchasing an additional 10,309 shares in the last quarter. Gabelli Funds LLC grew its position in 3M by 14.6% during the second quarter. Gabelli Funds LLC now owns 2,550 shares of the conglomerate’s stock worth $261,000 after buying an additional 325 shares in the last quarter. Public Sector Pension Investment Board increased its stake in 3M by 75.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 21,380 shares of the conglomerate’s stock worth $2,185,000 after acquiring an additional 9,160 shares during the period. AXA S.A. raised its holdings in 3M by 13.6% in the 2nd quarter. AXA S.A. now owns 99,735 shares of the conglomerate’s stock valued at $10,192,000 after acquiring an additional 11,910 shares in the last quarter. Finally, MBB Public Markets I LLC bought a new stake in shares of 3M during the 2nd quarter valued at $4,119,000. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on MMM shares. Citigroup boosted their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and upped their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Bank of America lifted their price objective on shares of 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays lifted their price target on 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Trading Down 0.0 %

NYSE MMM opened at $149.61 on Friday. The business’s 50-day moving average price is $132.43 and its two-hundred day moving average price is $128.82. 3M has a 12 month low of $75.40 and a 12 month high of $152.08. The firm has a market capitalization of $81.47 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 earnings per share. On average, analysts expect that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 37.09%.

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.