3M (NYSE:MMM) Stock Holdings Lowered by BKM Wealth Management LLC

BKM Wealth Management LLC reduced its holdings in 3M (NYSE:MMM) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,120 shares of the conglomerate’s stock after selling 316 shares during the quarter. BKM Wealth Management LLC’s holdings in 3M were worth $225,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. increased its position in shares of 3M by 419.1% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in 3M during the first quarter valued at approximately $32,000. Livelsberger Financial Advisory purchased a new position in 3M during the fourth quarter valued at approximately $35,000. CGC Financial Services LLC grew its position in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares in the last quarter. Finally, VisionPoint Advisory Group LLC grew its position in 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares in the last quarter. 65.25% of the stock is owned by hedge funds and other institutional investors.

3M Price Performance

NYSE:MMM opened at $100.61 on Tuesday. The stock has a market cap of $55.67 billion, a P/E ratio of -7.91, a PEG ratio of 1.90 and a beta of 0.95. 3M has a one year low of $71.12 and a one year high of $106.04. The company has a fifty day moving average price of $99.23 and a 200 day moving average price of $99.22. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.29. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the previous year, the firm posted $1.97 EPS. Analysts anticipate that 3M will post 7.17 earnings per share for the current year.

3M Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.78%. The ex-dividend date was Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is presently -22.01%.

Wall Street Analyst Weigh In

MMM has been the topic of a number of research analyst reports. Bank of America raised shares of 3M from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $105.00 to $120.00 in a research report on Friday, June 7th. HSBC upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the company from $91.13 to $115.00 in a research note on Friday, May 10th. StockNews.com started coverage on shares of 3M in a research note on Thursday, June 6th. They issued a “buy” rating for the company. Vertical Research upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the company from $92.00 to $140.00 in a research note on Thursday, May 16th. Finally, Mizuho reiterated a “neutral” rating and issued a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $111.58.

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.