Northstar Advisory Group LLC Acquires 4,036 Shares of 3M (NYSE:MMM)

Northstar Advisory Group LLC grew its holdings in shares of 3M (NYSE:MMM) by 27.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,829 shares of the conglomerate’s stock after acquiring an additional 4,036 shares during the period. 3M comprises approximately 1.2% of Northstar Advisory Group LLC’s holdings, making the stock its 27th largest position. Northstar Advisory Group LLC’s holdings in 3M were worth $2,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in 3M by 88.7% in the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock worth $1,225,087,000 after buying an additional 4,212,409 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of 3M by 11,601.2% in the third quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. Electron Capital Partners LLC bought a new stake in shares of 3M during the 2nd quarter valued at $76,732,000. Jennison Associates LLC purchased a new position in shares of 3M during the 3rd quarter valued at $82,208,000. Finally, Parsifal Capital Management LP boosted its holdings in 3M by 179.0% in the 3rd quarter. Parsifal Capital Management LP now owns 820,094 shares of the conglomerate’s stock worth $112,107,000 after buying an additional 526,194 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Trading Up 2.5 %

MMM traded up $3.33 during trading on Monday, reaching $134.54. The company had a trading volume of 4,171,571 shares, compared to its average volume of 3,634,692. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The stock has a market cap of $73.26 billion, a P/E ratio of 16.99, a PEG ratio of 2.15 and a beta of 0.95. The business has a 50 day simple moving average of $130.51 and a 200-day simple moving average of $126.65.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the company earned $2.68 EPS. The firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. On average, equities analysts anticipate that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.08%. 3M’s payout ratio is 35.35%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MMM shares. Mizuho upped their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada reduced their price objective on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Bank of America lifted their price target on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their price objective for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two equities 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.33.

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.