3M (NYSE:MMM) Shares Acquired by Capital Advisors Ltd. LLC

Capital Advisors Ltd. LLC lifted its stake in shares of 3M (NYSE:MMM) by 9.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,367 shares of the conglomerate’s stock after acquiring an additional 120 shares during the period. Capital Advisors Ltd. LLC’s holdings in 3M were worth $145,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tributary Capital Management LLC acquired a new position in 3M in the 1st quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. grew its position in 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 during the period. Northwest Investment Counselors LLC purchased a new position in 3M in the first quarter worth approximately $32,000. Livelsberger Financial Advisory acquired a new stake in 3M during the fourth quarter worth $35,000. Finally, CGC Financial Services LLC raised its position in 3M by 89.9% in 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 during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Price Performance

MMM stock opened at $101.62 on Wednesday. The business’s 50-day moving average is $99.39 and its two-hundred day moving average is $99.18. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 1.27. The firm has a market capitalization of $56.23 billion, a P/E ratio of -7.99, a P/E/G ratio of 1.90 and a beta of 0.95. 3M has a 1 year low of $71.12 and a 1 year high of $106.04.

3M (NYSE:MMM) last released its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share 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 period in the prior year, the firm earned $1.97 earnings per share. Analysts anticipate that 3M will post 7.17 earnings per share for the current fiscal year.

3M Cuts Dividend

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

Analyst Ratings Changes

MMM has been the subject of a number of recent analyst reports. Wolfe Research raised 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 price objective for the company in a research report on Thursday, June 13th. StockNews.com started coverage on shares of 3M in a research note on Thursday, June 6th. They issued a “buy” rating on the stock. UBS Group increased their price objective on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Citigroup lifted their target price on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, Vertical Research upgraded 3M from a “hold” rating to a “buy” rating and upped their price target for the stock from $92.00 to $140.00 in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $111.58.

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.