Fulton Bank N.A. Acquires 1,800 Shares of 3M (NYSE:MMM)

Fulton Bank N.A. lifted its stake in shares of 3M (NYSE:MMM) by 19.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,240 shares of the conglomerate’s stock after buying an additional 1,800 shares during the quarter. Fulton Bank N.A.’s holdings in 3M were worth $1,451,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of MMM. FSA Wealth Management LLC bought a new stake in 3M in the third quarter valued at $27,000. McClarren Financial Advisors Inc. grew its stake in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. Meeder Asset Management Inc. increased its position in 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. True Wealth Design LLC raised its stake in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in 3M in the third quarter worth approximately $57,000. 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 reports. Wells Fargo & Company upped their target price on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Melius upgraded shares of 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Mizuho lifted their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and upped their target price for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Finally, Royal Bank of Canada cut their price target on 3M from $100.00 to $96.00 and set an “underperform” rating for the company in a research note on Friday, January 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.33.

3M Stock Up 1.2 %

Shares of NYSE:MMM opened at $134.34 on Thursday. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The company has a market capitalization of $73.16 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The business has a fifty day moving average price of $130.32 and a two-hundred day moving average price of $126.05. 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 posted its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. The firm’s revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. Analysts forecast that 3M will post 7.27 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. 3M’s dividend payout ratio (DPR) is presently 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.