Guardian Wealth Advisors LLC Has $878,000 Stock Holdings in 3M (NYSE:MMM)

Guardian Wealth Advisors LLC decreased its position in 3M (NYSE:MMM) by 8.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,424 shares of the conglomerate’s stock after selling 572 shares during the period. 3M makes up 0.5% of Guardian Wealth Advisors LLC’s portfolio, making the stock its 24th largest position. Guardian Wealth Advisors LLC’s holdings in 3M were worth $878,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital World Investors acquired a new position in 3M in the first quarter valued at about $165,986,000. International Assets Investment Management LLC grew its position in shares of 3M by 11,601.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock valued at $172,416,000 after purchasing an additional 1,250,491 shares during the period. Janus Henderson Group PLC increased its stake in 3M by 1,015.6% during the 1st quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after purchasing an additional 808,914 shares in the last quarter. Electron Capital Partners LLC acquired a new stake in 3M during the 2nd quarter worth approximately $76,732,000. Finally, Bank of New York Mellon Corp lifted its stake in 3M by 11.8% in the second quarter. Bank of New York Mellon Corp now owns 5,065,242 shares of the conglomerate’s stock valued at $517,617,000 after buying an additional 533,520 shares in 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 research analyst reports. Bank of America raised their price objective on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Tuesday, July 30th. Finally, Barclays upped their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $144.87.

3M Stock Performance

Shares of MMM opened at $130.17 on Tuesday. The company has a market cap of $70.89 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The firm has a 50-day moving average of $132.84 and a 200-day moving average of $118.39. 3M has a one year low of $75.40 and a one year 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.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. The business’s revenue was down 24.3% compared to the same quarter last year. As a group, equities analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.15%. The ex-dividend date is Friday, November 15th. 3M’s dividend payout ratio is 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.