Toth Financial Advisory Corp Sells 605 Shares of 3M (NYSE:MMM)

Toth Financial Advisory Corp trimmed its position in 3M (NYSE:MMM) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,072 shares of the conglomerate’s stock after selling 605 shares during the quarter. Toth Financial Advisory Corp’s holdings in 3M were worth $3,236,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its holdings in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock worth $20,004,000 after acquiring an additional 20,421 shares during the last quarter. Franklin Resources Inc. grew its holdings in 3M by 26.8% in the 3rd quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after acquiring an additional 178,450 shares during the last quarter. Meyer Handelman Co. grew its position in shares of 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock worth $25,511,000 after buying an additional 2,678 shares during the last quarter. Ballentine Partners LLC grew its position in shares of 3M by 40.1% in the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after buying an additional 5,210 shares during the last quarter. Finally, Stonegate Investment Group LLC grew its position in shares of 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after buying an additional 13,473 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MMM shares. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research report on Tuesday, October 22nd. Bank of America lifted their price target on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. 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 stock. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Trading Down 0.0 %

Shares of NYSE:MMM opened at $149.61 on Friday. The company has a market cap of $81.47 billion, a P/E ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. 3M has a 1 year low of $75.40 and a 1 year high of $152.08. The stock’s fifty day moving average price is $132.83 and its 200-day moving average price is $129.15.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.42 earnings per share. Sell-side analysts expect that 3M will post 7.66 earnings per share for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors 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 yield of 1.87%. 3M’s dividend payout ratio (DPR) is 37.09%.

About 3M

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.