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

by · The Markets Daily

Schrum Private Wealth Management LLC purchased a new stake in 3M (NYSE:MMM – Free Report) 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.

Get Our Latest Analysis on 3M

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 – Get Free Report) 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

(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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