Register Financial Advisors LLC Cuts Holdings in 3M (NYSE:MMM)

Register Financial Advisors LLC reduced its stake in shares of 3M (NYSE:MMM) by 16.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,028 shares of the conglomerate’s stock after selling 599 shares during the quarter. Register Financial Advisors LLC’s holdings in 3M were worth $391,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in shares of 3M in the third quarter worth $27,000. McClarren Financial Advisors Inc. increased its holdings in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the last quarter. True Wealth Design LLC increased its position in shares of 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. ORG Partners LLC boosted its holdings in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in 3M during the 3rd quarter worth $57,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 target price on shares of 3M in a research report on Wednesday, January 22nd. Barclays boosted their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a report on Tuesday, October 22nd. Mizuho boosted their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Citigroup raised their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Price Performance

Shares of NYSE:MMM opened at $149.61 on Monday. The firm has a market capitalization of $81.47 billion, a PE ratio of 19.82, a PEG 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 has a 1-year low of $75.40 and a 1-year high of $152.08. The business’s 50 day moving average is $132.83 and its 200-day moving average is $129.36.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during 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 revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.42 EPS. Sell-side analysts predict that 3M will post 7.66 earnings per share 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 given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 37.09%.

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.