Register Financial Advisors LLC Makes New Investment in 3M (NYSE:MMM)

Register Financial Advisors LLC acquired a new position in shares of 3M (NYSE:MMM) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,605 shares of the conglomerate’s stock, valued at approximately $488,000.

Other large investors have also recently bought and sold shares of the company. Jade Capital Advisors LLC acquired a new stake in 3M during the fourth quarter worth about $4,373,000. MWA Asset Management acquired a new stake in shares of 3M in the 4th quarter valued at approximately $1,723,000. Scarborough Advisors LLC acquired a new stake in shares of 3M in the 4th quarter valued at approximately $978,000. Diversified Trust Co boosted its stake in shares of 3M by 1.4% in the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock valued at $2,021,000 after purchasing an additional 263 shares in the last quarter. Finally, KMG Fiduciary Partners LLC boosted its stake in shares of 3M by 2.2% in the 1st quarter. KMG Fiduciary Partners LLC now owns 14,769 shares of the conglomerate’s stock valued at $1,567,000 after purchasing an additional 311 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MMM. Citigroup raised their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and raised their price target for the company from $92.00 to $140.00 in a research note on Thursday, May 16th. Barclays raised their price target on shares of 3M from $112.00 to $118.00 and gave the company an “overweight” rating in a research note on Tuesday, May 28th. StockNews.com initiated coverage on shares of 3M in a research report on Thursday, June 6th. They set a “buy” rating on the stock. Finally, Royal Bank of Canada lifted their target price on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $111.58.

3M Trading Down 1.0 %

3M stock traded down $0.99 during mid-day trading on Friday, hitting $102.18. 6,195,095 shares of the stock were exchanged, compared to its average volume of 5,528,256. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. 3M has a 12 month low of $71.12 and a 12 month high of $106.04. The firm’s fifty day simple moving average is $99.23 and its two-hundred day simple moving average is $99.28. The stock has a market capitalization of $56.54 billion, a price-to-earnings ratio of -8.03, a PEG ratio of 1.91 and a beta of 0.96.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter last year, the business earned $1.97 EPS. Analysts forecast that 3M will post 7.09 EPS for the current year.

3M Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were paid a $0.70 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 annualized dividend and a dividend yield of 2.74%. 3M’s dividend payout ratio is currently -22.01%.

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.