Charles Schwab Trust Co Purchases 480 Shares of 3M (NYSE:MMM)

Charles Schwab Trust Co increased its holdings in 3M (NYSE:MMM) by 13.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,946 shares of the conglomerate’s stock after purchasing an additional 480 shares during the period. Charles Schwab Trust Co’s holdings in 3M were worth $509,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of MMM. CVA Family Office LLC increased its position in shares of 3M by 1.9% during the third quarter. CVA Family Office LLC now owns 4,174 shares of the conglomerate’s stock worth $571,000 after purchasing an additional 79 shares in the last quarter. Wynn Capital LLC increased its holdings in shares of 3M by 0.7% in the fourth quarter. Wynn Capital LLC now owns 11,690 shares of the conglomerate’s stock valued at $1,509,000 after purchasing an additional 80 shares during the last quarter. Harbour Investments Inc. lifted its position in 3M by 0.8% during the third quarter. Harbour Investments Inc. now owns 10,559 shares of the conglomerate’s stock worth $1,443,000 after buying an additional 81 shares in the last quarter. KMG Fiduciary Partners LLC grew its holdings in 3M by 0.5% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 16,186 shares of the conglomerate’s stock valued at $2,213,000 after buying an additional 84 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. increased 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 worth $884,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE MMM opened at $141.02 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The stock has a market cap of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.30 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $141.66. The stock has a 50 day moving average of $131.24 and a two-hundred day moving average of $127.93.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (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 revenue was down 24.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.68 earnings per share. On average, research analysts forecast that 3M will post 7.28 earnings per share for the current year.

3M Dividend Announcement

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

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent analyst reports. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research note on Saturday. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Melius Research upgraded 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. Finally, Royal Bank of Canada reduced their price target 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.13.

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.