Lionshead Wealth Management LLC Invests $272,000 in 3M (NYSE:MMM)

Lionshead Wealth Management LLC acquired a new position in 3M (NYSE:MMM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,105 shares of the conglomerate’s stock, valued at approximately $272,000.

Several other large investors also recently added to or reduced their stakes in the business. Wayfinding Financial LLC bought a new stake in shares of 3M during the 4th quarter valued at $851,000. Meyer Handelman Co. lifted its position in 3M by 1.4% during the fourth quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after purchasing an additional 2,678 shares in the last quarter. USA Financial Formulas bought a new stake in 3M during the fourth quarter valued at about $816,000. Braun Stacey Associates Inc. increased its position in 3M by 18.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate’s stock worth $18,408,000 after buying an additional 22,203 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in shares of 3M by 1,615.9% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate’s stock worth $15,780,000 after buying an additional 115,116 shares during the period. 65.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on MMM shares. JPMorgan Chase & Co. decreased their target price on shares of 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Bank of America lifted their target price on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada increased their price target on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 23rd. 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. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of 3M in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

3M Price Performance

3M stock opened at $142.25 on Monday. 3M has a 52-week low of $96.76 and a 52-week high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm’s fifty day moving average is $141.31 and its 200 day moving average is $138.70. The company has a market cap of $76.56 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 3.30 and a beta of 1.02.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Sell-side analysts forecast that 3M will post 7.8 EPS for the current fiscal year.

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.