Corient Private Wealth LLC Has $31.26 Million Stake in 3M (NYSE:MMM)

Corient Private Wealth LLC raised its stake in 3M (NYSE:MMM) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 285,982 shares of the conglomerate’s stock after purchasing an additional 12,448 shares during the quarter. Corient Private Wealth LLC owned 0.05% of 3M worth $31,264,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of MMM. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in 3M by 15.4% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 110,988 shares of the conglomerate’s stock worth $10,391,000 after acquiring an additional 14,775 shares during the last quarter. Shoker Investment Counsel Inc. grew its position in 3M by 49.7% in the 3rd quarter. Shoker Investment Counsel Inc. now owns 16,747 shares of the conglomerate’s stock worth $1,568,000 after purchasing an additional 5,561 shares in the last quarter. MWA Asset Management purchased a new stake in 3M in the 4th quarter valued at about $1,723,000. Diversified Trust Co lifted its position in shares of 3M by 1.4% during the 4th quarter. Diversified Trust Co now owns 18,487 shares of the conglomerate’s stock worth $2,021,000 after buying an additional 263 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in shares of 3M in the 3rd quarter worth approximately $11,908,000. Institutional investors own 65.25% of the company’s stock.

3M Trading Down 1.6 %

Shares of MMM stock opened at $101.49 on Thursday. The business has a 50-day moving average of $97.87 and a 200 day moving average of $98.66. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. 3M has a 1-year low of $71.12 and a 1-year high of $106.04. The stock has a market capitalization of $56.16 billion, a PE ratio of -7.98, a P/E/G ratio of 1.90 and a beta of 1.00.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the prior year, the firm posted $1.97 earnings per share. As a group, sell-side analysts anticipate that 3M will post 7.23 earnings per share for the current year.

3M Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is -47.48%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MMM. Royal Bank of Canada lifted their price target on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $111.00 in a research note on Wednesday, May 1st. HSBC raised shares of 3M from a “hold” rating to a “buy” rating and lifted their price target for the stock from $91.13 to $115.00 in a report on Friday, May 10th. UBS Group raised their target price on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Citigroup increased their target price on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.55.

3M Company 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.