Raleigh Capital Management Inc. Has $377,000 Holdings in 3M (NYSE:MMM)

Raleigh Capital Management Inc. lessened its stake in shares of 3M (NYSE:MMM) by 3.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,923 shares of the conglomerate’s stock after selling 115 shares during the period. Raleigh Capital Management Inc.’s holdings in 3M were worth $377,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MMM. FSA Wealth Management LLC bought a new position in shares of 3M during the 3rd quarter worth about $27,000. Daymark Wealth Partners LLC boosted its holdings in 3M by 8.6% in the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its stake in 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the period. ORG Partners LLC increased its holdings in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the period. 65.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MMM. Royal Bank of Canada reissued an “underperform” rating and issued a $96.00 price target on shares of 3M in a research report on Wednesday. Citigroup lifted their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $170.00 in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Finally, Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, 3M presently has an average rating of “Moderate Buy” and an average price target of $148.87.

3M Trading Up 1.5 %

NYSE MMM opened at $149.14 on Thursday. The business’s fifty day moving average is $132.09 and its 200-day moving average is $128.67. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The stock has a market capitalization of $81.21 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 2.42 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $152.08.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 97.19%. The company’s revenue for the quarter was down 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.42 earnings per share. Equities research analysts predict that 3M will post 7.66 EPS for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. 3M’s dividend payout ratio is presently 37.09%.

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.