KMG Fiduciary Partners LLC Purchases 1,537 Shares of 3M (NYSE:MMM)

KMG Fiduciary Partners LLC grew its position in 3M (NYSE:MMM) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,723 shares of the conglomerate’s stock after purchasing an additional 1,537 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in 3M were worth $2,288,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC bought a new stake in shares of 3M in the 3rd quarter valued at $27,000. McClarren Financial Advisors Inc. boosted its stake 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 during the last quarter. True Wealth Design LLC boosted its stake 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 valued at $42,000 after purchasing an additional 296 shares during the last quarter. ORG Partners LLC boosted its stake in 3M by 44.1% during the fourth 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, Northwest Investment Counselors LLC bought a new position in 3M during the third quarter worth $57,000. 65.25% of the stock is owned by institutional investors.

3M Stock Performance

Shares of MMM stock opened at $139.19 on Friday. The firm has a 50-day moving average of $130.99 and a 200-day moving average of $127.20. The company has a market cap of $75.79 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.01 and a beta of 0.95. 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 one year low of $75.40 and a one year high of $141.34.

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

3M Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.01%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MMM shares. 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 research note on Wednesday, October 23rd. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their target price for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Barclays cut their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada lowered their price objective on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, 3M currently 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.