Brave Asset Management Inc. Has $887,000 Holdings in 3M (NYSE:MMM)

Brave Asset Management Inc. trimmed its stake in shares of 3M (NYSE:MMM) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,870 shares of the conglomerate’s stock after selling 285 shares during the period. Brave Asset Management Inc.’s holdings in 3M were worth $887,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of 3M by 88.7% during the 3rd quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after acquiring an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC grew its position in 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Electron Capital Partners LLC acquired a new stake in 3M in the 2nd quarter valued at $76,732,000. Jennison Associates LLC bought a new stake in 3M during the 3rd quarter worth about $82,208,000. Finally, Parsifal Capital Management LP grew its holdings in shares of 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock valued at $112,107,000 after acquiring an additional 526,194 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on MMM shares. Royal Bank of Canada dropped their target price on 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Barclays cut their price objective on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price target on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.13.

3M Trading Up 0.6 %

Shares of NYSE:MMM opened at $138.07 on Thursday. The stock has a market cap of $75.19 billion, a PE ratio of 17.43, a P/E/G ratio of 2.01 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a 12-month low of $75.40 and a 12-month high of $141.34. The business has a 50 day moving average of $130.90 and a 200-day moving average of $127.12.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.68 EPS. As a group, equities research analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.03%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is 35.35%.

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.