Sawyer & Company Inc Trims Stock Holdings in 3M (NYSE:MMM)

Sawyer & Company Inc trimmed its position in shares of 3M (NYSE:MMM) by 34.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,782 shares of the conglomerate’s stock after selling 1,437 shares during the quarter. Sawyer & Company Inc’s holdings in 3M were worth $359,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MMM. FSA Wealth Management LLC acquired a new position in shares of 3M in the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. increased its holdings in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. ORG Partners LLC boosted its stake in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after acquiring an additional 98 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in shares of 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Barclays decreased their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Wednesday. Bank of America increased their target price on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Mizuho raised their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.13.

3M Trading Up 0.6 %

NYSE MMM opened at $138.07 on Thursday. The company has a fifty day moving average of $130.90 and a 200 day moving average of $127.12. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The company has a market capitalization of $75.19 billion, a PE ratio of 17.43, a P/E/G 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, beating the consensus estimate 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 period in the previous year, the company posted $2.68 EPS. 3M’s revenue was down 24.3% compared to the same quarter last year. Research analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.03%. 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.