Blake Schutter Theil Wealth Advisors LLC Invests $240,000 in 3M (NYSE:MMM)

Blake Schutter Theil Wealth Advisors LLC purchased a new position in 3M (NYSE:MMM) during the 3rd quarter, Holdings Channel reports. The fund purchased 1,755 shares of the conglomerate’s stock, valued at approximately $240,000.

Several other large investors also recently added to or reduced their stakes in the stock. MFA Wealth Advisors LLC purchased a new stake in shares of 3M in the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC lifted its holdings in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. boosted its position in 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of 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 acquiring an additional 269 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in shares of 3M during the 2nd quarter worth $33,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MMM shares. Wells Fargo & Company boosted their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a report on Tuesday, July 30th. Morgan Stanley assumed coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 price target for the company. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Tuesday, October 22nd. 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. Based on data from MarketBeat.com, 3M has an average rating of “Hold” and an average price target of $139.27.

3M Trading Down 0.6 %

MMM stock opened at $133.07 on Friday. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The firm has a market cap of $72.46 billion, a P/E ratio of 16.80, a PEG ratio of 2.03 and a beta of 0.95. The company’s 50-day simple moving average is $132.83 and its 200-day simple moving average is $116.09.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The business’s revenue was down 24.3% compared to the same quarter last year. As a group, equities analysts forecast that 3M will post 7.28 EPS for the current fiscal 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 annualized dividend and a yield of 2.10%. 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.