First Personal Financial Services Cuts Stock Holdings in 3M (NYSE:MMM)

First Personal Financial Services trimmed its position in shares of 3M (NYSE:MMMFree Report) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 16,475 shares of the conglomerate’s stock after selling 410 shares during the period. First Personal Financial Services’ holdings in 3M were worth $2,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new stake in 3M in the 2nd quarter valued at $28,000. Daymark Wealth Partners LLC grew its stake in 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares during the period. McClarren Financial Advisors Inc. grew its stake in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the period. Meeder Asset Management Inc. grew its stake in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 269 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in 3M in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 1.0 %

Shares of MMM opened at $134.34 on Friday. The firm has a market cap of $73.16 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.22 and a beta of 0.95. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The company’s 50-day moving average price is $132.82 and its 200 day moving average price is $116.50. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMMGet Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue was down 24.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. On average, sell-side analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.08%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MMM shares. Mizuho lifted their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research note on Tuesday, July 30th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on shares of 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the stock from $110.00 to $150.00 in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $139.27.

Read Our Latest Report on 3M

3M Profile

(Free Report)

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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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