445 Shares in 3M (NYSE:MMM) Acquired by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC acquired a new stake in 3M (NYSE:MMM) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 445 shares of the conglomerate’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MMM. CVA Family Office LLC grew its stake in shares of 3M by 1.9% in the 3rd quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock valued at $571,000 after buying an additional 79 shares in the last quarter. Fortis Capital Advisors LLC increased its stake in shares of 3M by 2.9% during the 2nd quarter. Fortis Capital Advisors LLC now owns 3,001 shares of the conglomerate’s stock worth $307,000 after purchasing an additional 84 shares during the last quarter. KMG Fiduciary Partners LLC raised its holdings in shares of 3M by 0.5% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after purchasing an additional 84 shares in the last quarter. TCV Trust & Wealth Management Inc. lifted its stake in shares of 3M by 1.3% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 6,464 shares of the conglomerate’s stock valued at $884,000 after purchasing an additional 84 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its holdings in 3M by 3.3% in the third quarter. Weatherly Asset Management L. P. now owns 2,730 shares of the conglomerate’s stock worth $373,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MMM. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Bank of America boosted their target price on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 price target on the stock in a report on Tuesday, July 30th. Barclays boosted their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $144.87.

3M Price Performance

Shares of MMM stock opened at $131.45 on Thursday. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a market capitalization of $71.58 billion, a P/E ratio of 16.60, a P/E/G ratio of 2.16 and a beta of 0.95. The stock has a 50 day moving average of $132.78 and a two-hundred day moving average of $117.40. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period last year, the business earned $2.68 earnings per share. As a group, equities analysts expect that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.13%. The ex-dividend date is Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

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.