McGlone Suttner Wealth Management Inc. Has $350,000 Stock Holdings in 3M (NYSE:MMM)

McGlone Suttner Wealth Management Inc. raised its stake in 3M (NYSE:MMM) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,712 shares of the conglomerate’s stock after purchasing an additional 196 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in 3M were worth $350,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of MMM. D.A. Davidson & CO. grew its stake in 3M by 16.2% in the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after buying an additional 20,421 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of 3M by 26.8% during the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after acquiring an additional 178,450 shares during the period. Meyer Handelman Co. grew its holdings in 3M by 1.4% in the 4th quarter. Meyer Handelman Co. now owns 197,618 shares of the conglomerate’s stock valued at $25,511,000 after buying an additional 2,678 shares in the last quarter. Ballentine Partners LLC increased its position in 3M by 40.1% during the third quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after acquiring an additional 5,210 shares during the period. Finally, Stonegate Investment Group LLC increased its holdings in shares of 3M by 5.6% during the third quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after purchasing an additional 13,473 shares during the period. 65.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada restated an “underperform” rating and set a $96.00 price objective on shares of 3M in a research note on Wednesday. Barclays raised their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company raised shares of 3M from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $140.00 to $170.00 in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.87.

3M Trading Up 0.4 %

Shares of MMM stock opened at $149.64 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $81.49 billion, a P/E ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 0.95. 3M has a twelve month low of $75.40 and a twelve month high of $152.08. The stock’s fifty day simple moving average is $132.09 and its 200 day simple moving average is $128.67.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5,770,390 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The firm’s revenue was down 25.0% compared to the same quarter last year. As a group, sell-side analysts predict that 3M will post 7.66 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. 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 1.87%. 3M’s dividend payout ratio (DPR) is presently 37.09%.

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.