Moss Adams Wealth Advisors LLC Increases Holdings in 3M (NYSE:MMM)

Moss Adams Wealth Advisors LLC lifted its position in 3M (NYSE:MMM) by 8.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,850 shares of the conglomerate’s stock after buying an additional 144 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in 3M were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

MMM has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on 3M from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Wednesday, January 15th. Bank of America lifted their price objective on 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, 3M presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.13.

3M Price Performance

NYSE:MMM opened at $141.02 on Monday. The company has a market capitalization of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. The business’s 50-day moving average is $131.24 and its 200 day moving average is $127.74. 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 has a 12 month low of $75.40 and a 12 month high of $141.66.

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

3M Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

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.