3M (NYSE:MMM) Shares Bought by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its position in shares of 3M (NYSE:MMM) by 1.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,791 shares of the conglomerate’s stock after acquiring an additional 185 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in 3M were worth $1,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp increased its holdings in shares of 3M by 1.1% in the third quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after purchasing an additional 302,900 shares during the period. FMR LLC increased its holdings in shares of 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 3M by 1.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the period. National Pension Service increased its holdings in shares of 3M by 14.5% in the third quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock valued at $173,336,000 after purchasing an additional 161,036 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Down 0.0 %

MMM opened at $149.61 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a one year low of $75.40 and a one year high of $152.08. The business’s fifty day moving average is $132.43 and its two-hundred day moving average is $128.82. The company has a market cap of $81.47 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The business had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. During the same period in the prior year, the business earned $2.42 earnings per share. The business’s revenue was down 25.0% on a year-over-year basis. Analysts anticipate that 3M will post 7.66 EPS for the current fiscal year.

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. 3M’s dividend payout ratio is currently 37.09%.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of recent research reports. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Citigroup lifted their price target on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price target on 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and lifted their price target for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research note on Saturday, January 18th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

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.