Snowden Capital Advisors LLC Lowers Holdings in 3M (NYSE:MMM)

Snowden Capital Advisors LLC cut its holdings in 3M (NYSE:MMM) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,503 shares of the conglomerate’s stock after selling 205 shares during the period. Snowden Capital Advisors LLC’s holdings in 3M were worth $1,227,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of 3M during the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC purchased a new stake in shares of 3M during the 4th quarter worth approximately $26,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of 3M during the 4th quarter worth approximately $27,000. Daymark Wealth Partners LLC raised its holdings in shares of 3M by 9.0% during the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 19,552 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of 3M by 230.1% during the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 214 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Trading Up 2.9%

NYSE MMM opened at $153.11 on Monday. The company’s 50-day moving average price is $141.60 and its 200-day moving average price is $139.47. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a market cap of $82.40 billion, a PE ratio of 20.28, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 12 month low of $96.76 and a 12 month high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, topping analysts’ consensus estimates 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%. Equities research analysts forecast that 3M will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.91%. 3M’s payout ratio is presently 36.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup decreased their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Bank of America upped their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their target price on 3M from $140.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Saturday, May 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $152.08.

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.