3M (NYSE:MMM) Shares Acquired by G&S Capital LLC

G&S Capital LLC increased its holdings in shares of 3M (NYSE:MMM) by 6.3% in the first quarter, Holdings Channel reports. The firm owned 10,499 shares of the conglomerate’s stock after acquiring an additional 625 shares during the period. G&S Capital LLC’s holdings in 3M were worth $1,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Financial Synergies Wealth Advisors Inc. lifted its holdings in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 197 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in 3M in the first quarter valued at about $32,000. Livelsberger Financial Advisory acquired a new position in shares of 3M during the fourth quarter worth about $35,000. CGC Financial Services LLC lifted its stake in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after purchasing an additional 160 shares in the last quarter. Finally, VisionPoint Advisory Group LLC boosted its position in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock worth $42,000 after buying an additional 215 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

3M Trading Down 0.6 %

Shares of 3M stock opened at $101.44 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. 3M has a 1-year low of $71.12 and a 1-year high of $106.04. The business’s fifty day moving average price is $98.59 and its two-hundred day moving average price is $99.24.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.29. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same quarter in the prior year, the company posted $1.97 earnings per share. As a group, equities research analysts anticipate that 3M will post 7.09 EPS for the current fiscal year.

3M Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 24th were paid a dividend of $0.70 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.76%. 3M’s dividend payout ratio is presently -22.01%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped their price target on 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. StockNews.com began coverage on 3M in a research note on Thursday, June 6th. They set a “buy” rating for the company. Citigroup increased their price target on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Wolfe Research upgraded 3M from a “peer perform” rating to an “outperform” rating and set a $125.00 target price for the company in a research note on Thursday, June 13th. Finally, UBS Group raised their price objective on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $111.58.

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.