1,942 Shares in 3M (NYSE:MMM) Bought by Schrum Private Wealth Management LLC

Schrum Private Wealth Management LLC purchased a new stake in 3M (NYSE:MMM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,942 shares of the conglomerate’s stock, valued at approximately $265,000.

A number of other institutional investors also recently bought and sold shares of MMM. McClarren Financial Advisors Inc. boosted its holdings in shares of 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 buying an additional 121 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in 3M in the second quarter valued at $28,000. Meeder Asset Management Inc. boosted its stake in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 269 shares in the last quarter. TruNorth Capital Management LLC purchased a new position in shares of 3M during the second quarter worth about $33,000. Finally, Gradient Investments LLC increased its position in shares of 3M by 44.7% during the second quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock worth $36,000 after purchasing an additional 110 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MMM has been the subject of a number of research analyst reports. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Mizuho lifted their target price on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Finally, StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.87.

3M Trading Up 0.8 %

NYSE MMM opened at $131.45 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $71.58 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.16 and a beta of 0.95. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The firm has a 50-day moving average price of $132.78 and a 200 day moving average price of $117.40.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 EPS. Equities research analysts expect that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

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.