ZWJ Investment Counsel Inc. Sells 140 Shares of 3M (NYSE:MMM)

ZWJ Investment Counsel Inc. reduced its position in shares of 3M (NYSE:MMM) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,136 shares of the conglomerate’s stock after selling 140 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in 3M were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MMM. Strong Tower Advisory Services increased its stake in shares of 3M by 4.5% in the 4th quarter. Strong Tower Advisory Services now owns 46,715 shares of the conglomerate’s stock valued at $6,030,000 after acquiring an additional 2,020 shares during the last quarter. Diversify Wealth Management LLC increased its stake in 3M by 32.5% in the fourth quarter. Diversify Wealth Management LLC now owns 5,021 shares of the conglomerate’s stock valued at $659,000 after purchasing an additional 1,232 shares in the last quarter. Grove Bank & Trust raised its holdings in 3M by 6.6% in the fourth quarter. Grove Bank & Trust now owns 1,686 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 105 shares during the period. Brady Martz Wealth Solutions LLC bought a new position in shares of 3M during the fourth quarter worth $887,000. Finally, Clarius Group LLC acquired a new position in shares of 3M in the 4th quarter valued at $220,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

NYSE:MMM opened at $141.02 on Tuesday. The firm’s fifty day moving average price is $131.24 and its two-hundred day moving average price is $127.93. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The company has a market cap of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.30 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $141.66.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the prior year, the firm earned $2.68 EPS. The business’s revenue was down 24.3% on a year-over-year basis. Equities analysts expect that 3M will post 7.28 earnings per share for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.99%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Royal Bank of Canada cut their price objective on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Barclays lowered their target price on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Bank of America lifted their target price on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Mizuho boosted their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $144.13.

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.