BluePath Capital Management LLC Increases Stake in 3M (NYSE:MMM)

BluePath Capital Management LLC raised its holdings in 3M (NYSE:MMM) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,405 shares of the conglomerate’s stock after buying an additional 1,145 shares during the period. BluePath Capital Management LLC’s holdings in 3M were worth $862,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. FSA Wealth Management LLC purchased a new position in 3M in the third quarter valued at $27,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. grew its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares in the last quarter. ORG Partners LLC increased its stake in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. Finally, True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Up 0.6 %

MMM stock opened at $138.07 on Thursday. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08. The company has a market cap of $75.19 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 2.01 and a beta of 0.95. The company has a fifty day moving average price of $130.90 and a 200 day moving average price of $127.12.

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

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.03%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MMM. Royal Bank of Canada dropped their price objective on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a research report on Friday, January 3rd. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Bank of America raised their target price on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays dropped their price target on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, 3M has a consensus rating of “Moderate Buy” and a consensus price target of $144.13.

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.