Trust Co. of Vermont raised its stake in 3M (NYSE:MMM – Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,030 shares of the conglomerate’s stock after acquiring an additional 1,925 shares during the period. Trust Co. of Vermont’s holdings in 3M were worth $6,846,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Premier Path Wealth Partners LLC boosted its holdings in shares of 3M by 2.8% in the 4th quarter. Premier Path Wealth Partners LLC now owns 4,988 shares of the conglomerate’s stock worth $644,000 after acquiring an additional 136 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in 3M by 0.7% in the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 12,756 shares of the conglomerate’s stock worth $1,647,000 after purchasing an additional 89 shares in the last quarter. Brooklyn Investment Group grew its holdings in shares of 3M by 23.3% during the fourth quarter. Brooklyn Investment Group now owns 550 shares of the conglomerate’s stock worth $71,000 after purchasing an additional 104 shares during the last quarter. Whitener Capital Management Inc. increased its stake in shares of 3M by 1.4% in the fourth quarter. Whitener Capital Management Inc. now owns 17,007 shares of the conglomerate’s stock valued at $2,195,000 after buying an additional 238 shares in the last quarter. Finally, Merit Financial Group LLC raised its holdings in shares of 3M by 106.8% in the fourth quarter. Merit Financial Group LLC now owns 18,004 shares of the conglomerate’s stock valued at $2,324,000 after buying an additional 9,299 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Barclays lowered their price objective on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Wednesday. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Wells Fargo & Company upped their price target on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada dropped their price objective on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a report on Friday, January 3rd. Two equities research 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’s stock. According to data from MarketBeat.com, 3M has an average rating of “Moderate Buy” and an average target price of $144.13.
3M Stock Up 1.3 %
Shares of MMM traded up $1.84 during midday trading on Friday, hitting $141.02. The stock had a trading volume of 5,717,193 shares, compared to its average volume of 2,528,391. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The firm has a market cap of $76.80 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95. The company has a 50 day simple moving average of $131.11 and a two-hundred day simple moving average of $127.28. 3M has a twelve month low of $75.40 and a twelve month high of $141.66.
3M (NYSE:MMM – Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period last year, the business earned $2.68 EPS. On average, analysts anticipate that 3M will post 7.27 EPS for the current year.
3M Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is currently 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.
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