Brady Martz Wealth Solutions LLC Invests $887,000 in 3M (NYSE:MMM)

Brady Martz Wealth Solutions LLC bought a new stake in 3M (NYSE:MMM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,468 shares of the conglomerate’s stock, valued at approximately $887,000.

A number of other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. lifted its stake in shares of 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 purchasing an additional 20,421 shares during the period. Franklin Resources Inc. increased its holdings in 3M by 26.8% in the third quarter. Franklin Resources Inc. now owns 845,401 shares of the conglomerate’s stock worth $114,770,000 after purchasing an additional 178,450 shares in the last quarter. Meyer Handelman Co. lifted its stake in 3M by 1.4% in the fourth 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 during the period. Ballentine Partners LLC boosted its holdings in shares of 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock worth $2,490,000 after buying an additional 5,210 shares in the last quarter. Finally, Stonegate Investment Group LLC boosted its position in shares of 3M by 5.6% during the 3rd 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 in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Up 1.3 %

MMM opened at $141.02 on Friday. 3M has a twelve month low of $75.40 and a twelve month high of $141.66. The company’s 50-day moving average price is $131.24 and its two-hundred day moving average price is $127.56. The stock has a market cap of $76.80 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. As a group, equities analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

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

Analyst Ratings Changes

MMM has been the subject of a number of research analyst reports. Barclays decreased their target price on 3M from $165.00 to $161.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price target on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.13.

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.