446 Shares in 3M (NYSE:MMM) Purchased by Brooklyn Investment Group

Brooklyn Investment Group purchased a new position in shares of 3M (NYSE:MMM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 446 shares of the conglomerate’s stock, valued at approximately $61,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. McClarren Financial Advisors Inc. boosted its position in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in 3M during the second quarter worth about $28,000. Meeder Asset Management Inc. boosted its position in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the last quarter. TruNorth Capital Management LLC acquired a new position in 3M in the 2nd quarter valued at about $33,000. Finally, Gradient Investments LLC boosted its holdings in 3M by 44.7% in the 2nd quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 0.4 %

Shares of NYSE:MMM opened at $132.48 on Friday. The stock has a market cap of $72.14 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.16 and a beta of 0.95. The firm has a fifty day moving average price of $132.42 and a 200 day moving average price of $119.92. 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 has a 1-year low of $75.40 and a 1-year high of $141.34.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 EPS. Sell-side 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 will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.11%. 3M’s dividend payout ratio is presently 35.35%.

Wall Street Analyst Weigh In

Several research firms have weighed in on MMM. JPMorgan Chase & Co. boosted their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Bank of America boosted their target price on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and boosted their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.