Talon Private Wealth LLC Buys New Holdings in 3M (NYSE:MMM)

Talon Private Wealth LLC purchased a new position in shares of 3M (NYSE:MMM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,758 shares of the conglomerate’s stock, valued at approximately $227,000.

Several other institutional investors and hedge funds have also bought and sold shares of MMM. Financial Life Planners acquired a new position in 3M in the fourth quarter valued at approximately $25,000. Proficio Capital Partners LLC purchased a new position in shares of 3M during the 4th quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. acquired a new position in shares of 3M in the 4th quarter valued at $27,000. Daymark Wealth Partners LLC boosted its holdings in 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after buying an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after buying an additional 214 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MMM shares. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Citigroup lowered their price target on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

3M Price Performance

MMM stock opened at $137.99 on Friday. 3M has a 1 year low of $95.01 and a 1 year high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm has a market capitalization of $74.26 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The business has a 50 day simple moving average of $142.42 and a 200-day simple moving average of $138.31.

3M (NYSE:MMM) last issued its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Equities research analysts anticipate that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 14th were paid a $0.73 dividend. This is a boost from 3M’s previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 annualized dividend and a dividend yield of 2.12%. 3M’s dividend payout ratio is 36.87%.

3M Company 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.