Beaird Harris Wealth Management LLC Has $72,000 Stake in 3M (NYSE:MMM)

Beaird Harris Wealth Management LLC decreased its position in shares of 3M (NYSE:MMM) by 33.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 525 shares of the conglomerate’s stock after selling 260 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in 3M were worth $72,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. FSA Wealth Management LLC bought a new stake in shares of 3M in the 3rd quarter valued at about $27,000. MFA Wealth Advisors LLC bought a new position in shares of 3M in the 2nd quarter worth $28,000. Daymark Wealth Partners LLC increased its position in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position 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 buying an additional 269 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.1 %

Shares of NYSE:MMM opened at $129.92 on Friday. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The firm’s 50-day moving average is $131.32 and its two-hundred day moving average is $122.18. The firm has a market capitalization of $70.75 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM) last issued 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. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the firm earned $2.68 EPS. The company’s revenue was down 24.3% compared to the same quarter last year. Analysts predict that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MMM. JPMorgan Chase & Co. upped their price objective on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Mizuho raised their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Barclays upped their target price on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Morgan Stanley started coverage on shares of 3M in a report on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, 3M currently has a consensus rating of “Moderate Buy” and an average price target of $144.87.

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.