3M (NYSE:MMM) Stock Holdings Increased by Aviance Capital Partners LLC

Aviance Capital Partners LLC increased its position in shares of 3M (NYSE:MMM) by 21.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,288 shares of the conglomerate’s stock after acquiring an additional 925 shares during the quarter. Aviance Capital Partners LLC’s holdings in 3M were worth $561,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. boosted its holdings in shares of 3M by 419.1% during the 1st 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 bought a new stake in shares of 3M during the 1st quarter worth $32,000. Livelsberger Financial Advisory bought a new stake in shares of 3M during the 4th quarter worth $35,000. CGC Financial Services LLC boosted its holdings in shares of 3M by 89.9% during the 4th quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares during the period. Finally, VisionPoint Advisory Group LLC boosted its holdings in shares of 3M by 91.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after buying an additional 215 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of research reports. UBS Group increased their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. StockNews.com initiated coverage on shares of 3M in a report on Thursday, June 6th. They issued a “buy” rating for the company. Citigroup increased their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Mizuho reissued a “neutral” rating and issued a $105.00 price target on shares of 3M in a report on Wednesday, March 27th. Finally, HSBC upgraded shares of 3M from a “hold” rating to a “buy” rating and increased their price objective for the company from $91.13 to $115.00 in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $111.58.

3M Price Performance

Shares of 3M stock traded down $0.58 during mid-day trading on Monday, reaching $101.61. 475,093 shares of the stock were exchanged, compared to its average volume of 5,487,843. The company has a market cap of $56.23 billion, a price-to-earnings ratio of -8.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. The firm has a 50-day simple moving average of $99.23 and a 200 day simple moving average of $99.22. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $106.04.

3M (NYSE:MMM) last issued 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 negative net margin of 21.57% and a positive return on equity of 95.80%. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. On average, sell-side analysts predict that 3M will post 7.17 EPS for the current fiscal year.

3M Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Thursday, May 23rd. 3M’s dividend payout ratio is currently -22.01%.

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.