Buckley Wealth Management LLC Has $3.17 Million Stock Holdings in 3M (NYSE:MMM)

Buckley Wealth Management LLC lifted its holdings in 3M (NYSE:MMM) by 36.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,889 shares of the conglomerate’s stock after buying an additional 8,020 shares during the period. 3M comprises approximately 1.0% of Buckley Wealth Management LLC’s portfolio, making the stock its 22nd biggest position. Buckley Wealth Management LLC’s holdings in 3M were worth $3,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Financial Synergies Wealth Advisors Inc. boosted its position in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the period. Northwest Investment Counselors LLC acquired a new stake in 3M during the first quarter valued at $32,000. Livelsberger Financial Advisory acquired a new stake in 3M during the fourth quarter valued at $35,000. CGC Financial Services LLC boosted its position in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its position in 3M by 42.8% during the fourth quarter. Cape Investment Advisory Inc. now owns 387 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 116 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

Shares of 3M stock traded down $1.18 during trading on Friday, reaching $101.99. The company’s stock had a trading volume of 1,319,281 shares, compared to its average volume of 5,488,937. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The business’s fifty day moving average price is $98.80 and its 200-day moving average price is $99.26. The firm has a market cap of $56.44 billion, a price-to-earnings ratio of -8.10, a price-to-earnings-growth ratio of 1.91 and a beta of 0.96. 3M has a one year low of $71.12 and a one year high of $106.04.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping 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 business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same period in the previous year, the company posted $1.97 earnings per share. As a group, equities research analysts predict that 3M will post 7.09 earnings per share for the current year.

3M Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 annualized dividend and a yield of 2.75%. 3M’s dividend payout ratio is -22.01%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada lifted their price objective on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. Mizuho reissued a “neutral” rating and set a $105.00 price objective on shares of 3M in a research report on Wednesday, March 27th. Barclays lifted their price objective on 3M from $112.00 to $118.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. UBS Group boosted their price target on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $111.58.

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.