Brooklyn Investment Group Has $71,000 Stock Holdings in 3M (NYSE:MMM)

Brooklyn Investment Group increased its stake in 3M (NYSE:MMM) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 550 shares of the conglomerate’s stock after acquiring an additional 104 shares during the quarter. Brooklyn Investment Group’s holdings in 3M were worth $71,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MMM. American Century Companies Inc. increased its position in shares of 3M by 0.8% during the second quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock worth $8,396,000 after buying an additional 650 shares during the period. Intech Investment Management LLC grew its holdings in 3M by 17.6% during the 2nd quarter. Intech Investment Management LLC now owns 34,758 shares of the conglomerate’s stock worth $3,552,000 after acquiring an additional 5,205 shares during the period. Canada Pension Plan Investment Board raised its position in shares of 3M by 7.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 489,502 shares of the conglomerate’s stock worth $50,022,000 after acquiring an additional 34,081 shares in the last quarter. AE Wealth Management LLC lifted its stake in shares of 3M by 6.9% in the 2nd quarter. AE Wealth Management LLC now owns 24,322 shares of the conglomerate’s stock valued at $2,485,000 after purchasing an additional 1,565 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of 3M by 1.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 115,605 shares of the conglomerate’s stock valued at $11,814,000 after purchasing an additional 1,949 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on MMM shares. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a research note on Saturday. Royal Bank of Canada lowered their price target on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research report on Friday, January 3rd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Bank of America lifted their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays cut their price target on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.13.

3M Price Performance

Shares of NYSE:MMM opened at $141.02 on Monday. 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 company’s fifty day moving average price is $131.24 and its 200-day moving average price is $127.74. 3M has a one year low of $75.40 and a one year high of $141.66. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping 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 company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the company posted $2.68 EPS. 3M’s quarterly revenue was down 24.3% compared to the same quarter last year. On average, equities research analysts anticipate that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The firm 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 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio is presently 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.