Wealth Enhancement Advisory Services LLC Purchases 335 Shares of 3M (NYSE:MMM)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of 3M (NYSE:MMM) by 0.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 212,313 shares of the conglomerate’s stock after buying an additional 335 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in 3M were worth $29,023,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MMM. LPL Financial LLC boosted its stake in 3M by 10.5% during the 2nd quarter. LPL Financial LLC now owns 728,373 shares of the conglomerate’s stock valued at $74,432,000 after purchasing an additional 69,507 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of 3M by 0.8% in the second quarter. American Century Companies Inc. now owns 82,161 shares of the conglomerate’s stock valued at $8,396,000 after purchasing an additional 650 shares in the last quarter. Achmea Investment Management B.V. boosted its position in shares of 3M by 7.1% during the second quarter. Achmea Investment Management B.V. now owns 32,777 shares of the conglomerate’s stock valued at $3,349,000 after buying an additional 2,178 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in 3M by 35.0% during the second quarter. Oppenheimer & Co. Inc. now owns 34,513 shares of the conglomerate’s stock worth $3,527,000 after buying an additional 8,940 shares in the last quarter. Finally, Meeder Asset Management Inc. raised 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 during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. 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 research note on Wednesday, November 13th. Mizuho increased their price objective on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Melius upgraded 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. increased their price target on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, Bank of America boosted their price objective on 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $144.33.

3M Stock Down 2.5 %

MMM opened at $131.13 on Friday. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The company has a market cap of $71.41 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.15 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a 50 day moving average of $130.51 and a 200 day moving average of $126.48.

3M (NYSE:MMM) last announced 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 analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.68 earnings per share. On average, sell-side analysts expect that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s payout ratio is 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.