3M (NYSE:MMM) Shares Sold by Great Waters Wealth Management

by · The Markets Daily

Great Waters Wealth Management lowered its position in shares of 3M (NYSE:MMM – Free Report) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,708 shares of the conglomerate’s stock after selling 1,972 shares during the quarter. 3M makes up approximately 0.4% of Great Waters Wealth Management’s holdings, making the stock its 17th biggest holding. Great Waters Wealth Management’s holdings in 3M were worth $2,931,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in 3M in the 3rd quarter valued at about $27,000. Daymark Wealth Partners LLC boosted its position in shares of 3M by 8.6% in 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 during the last quarter. McClarren Financial Advisors Inc. grew its holdings in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. ORG Partners LLC increased its position in 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after purchasing an additional 98 shares during the last quarter. Finally, True Wealth Design LLC raised its stake in 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the period. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Stock Up 1.3 %

MMM stock opened at $141.02 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The firm has a 50 day simple moving average of $131.40 and a 200-day simple moving average of $128.20. The company has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a PEG ratio of 2.30 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $141.66.

3M (NYSE:MMM – Get Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. On average, equities research analysts predict that 3M will post 7.28 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is currently 35.35%.

Analyst Ratings Changes

Several analysts have recently issued reports on MMM shares. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday, January 15th. Wells Fargo & Company upped their price target on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Barclays dropped their target price on shares of 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $144.13.

Check Out Our Latest Report on MMM

3M Company 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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