Mitchell & Pahl Private Wealth LLC Purchases 759 Shares of 3M (NYSE:MMM)

Mitchell & Pahl Private Wealth LLC raised its position in 3M (NYSE:MMM) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,650 shares of the conglomerate’s stock after purchasing an additional 759 shares during the quarter. 3M accounts for about 1.3% of Mitchell & Pahl Private Wealth LLC’s holdings, making the stock its 14th biggest holding. Mitchell & Pahl Private Wealth LLC’s holdings in 3M were worth $2,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MMM. D.A. Davidson & CO. raised its holdings in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after buying an additional 20,421 shares during the last quarter. Franklin Resources Inc. increased its position in 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock valued at $114,770,000 after acquiring an additional 178,450 shares during the period. Meyer Handelman Co. increased its position in 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after acquiring an additional 2,678 shares during the period. Ballentine Partners LLC raised its stake in shares of 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after acquiring an additional 5,210 shares during the last quarter. Finally, Stonegate Investment Group LLC lifted its holdings 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 worth $34,564,000 after purchasing an additional 13,473 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Up 1.3 %

Shares of 3M stock opened at $141.02 on Tuesday. The stock has a market capitalization of $76.80 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $141.66. The stock has a 50 day moving average price of $131.24 and a two-hundred day moving average price of $127.93. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same period last year, the company earned $2.68 earnings per share. The business’s revenue was down 24.3% on a year-over-year basis. As a group, equities analysts anticipate that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. 3M’s payout ratio is 35.35%.

Analyst Ratings Changes

MMM has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their price objective on 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Wednesday, January 15th. Royal Bank of Canada decreased their price target on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Wells Fargo & Company upped their target price on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, 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 report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.13.

About 3M

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.