McGlone Suttner Wealth Management Inc. Acquires 196 Shares of 3M (NYSE:MMM)

McGlone Suttner Wealth Management Inc. lifted its stake in 3M (NYSE:MMM) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 hedge funds and other institutional investors have also made changes to their positions in the stock. Sei Investments Co. raised its position in shares of 3M by 6.7% in the 2nd quarter. Sei Investments Co. now owns 165,119 shares of the conglomerate’s stock valued at $16,874,000 after acquiring an additional 10,309 shares during the period. Gabelli Funds LLC boosted its position in shares of 3M by 14.6% during the second quarter. Gabelli Funds LLC now owns 2,550 shares of the conglomerate’s stock worth $261,000 after purchasing an additional 325 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of 3M by 75.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,380 shares of the conglomerate’s stock valued at $2,185,000 after buying an additional 9,160 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in 3M by 60.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 105,867 shares of the conglomerate’s stock worth $10,819,000 after buying an additional 39,717 shares during the period. Finally, AXA S.A. lifted its holdings in 3M by 13.6% during the second quarter. AXA S.A. now owns 99,735 shares of the conglomerate’s stock worth $10,192,000 after acquiring an additional 11,910 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MMM has been the subject of several recent analyst reports. Citigroup increased their price target on 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays raised their target price on shares of 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of 3M from $162.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.87.

3M Trading Up 0.4 %

NYSE MMM opened at $149.64 on Friday. 3M has a 12 month low of $75.40 and a 12 month high of $152.08. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The stock has a 50 day moving average of $132.09 and a 200-day moving average of $128.67. The company has a market cap of $81.49 billion, a PE ratio of 19.82, a PEG ratio of 2.46 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. The company’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.42 earnings per share. On average, equities research analysts anticipate that 3M will post 7.66 EPS for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 37.09%.

3M Company 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.