BDO Wealth Advisors LLC boosted its holdings in shares of 3M Co (NYSE:MMM) by 359.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 712 shares of the conglomerate’s stock after acquiring an additional 557 shares during the quarter. BDO Wealth Advisors LLC’s holdings in 3M were worth $156,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of MMM. Koch Industries Inc. purchased a new stake in shares of 3M in the 4th quarter worth $788,000. Quattro Financial Advisors LLC purchased a new stake in shares of 3M in the 1st quarter worth $119,000. Bluestein R H & Co. lifted its holdings in shares of 3M by 1,211.9% in the 1st quarter. Bluestein R H & Co. now owns 110,558 shares of the conglomerate’s stock worth $24,270,000 after buying an additional 102,131 shares during the period. Bank of Nova Scotia Trust Co. lifted its holdings in shares of 3M by 15.1% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 50,993 shares of the conglomerate’s stock worth $12,002,000 after buying an additional 6,688 shares during the period. Finally, Reilly Herbert Faulkner III lifted its holdings in shares of 3M by 2.7% in the 4th quarter. Reilly Herbert Faulkner III now owns 20,808 shares of the conglomerate’s stock worth $4,898,000 after buying an additional 548 shares during the period. Institutional investors own 65.50% of the company’s stock.
Shares of 3M opened at $198.08 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.17. The firm has a market cap of $121.21 billion, a P/E ratio of 21.60, a P/E/G ratio of 1.93 and a beta of 1.16. 3M Co has a 1-year low of $191.44 and a 1-year high of $259.77.
3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 24th. The conglomerate reported $2.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.50. The firm had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.21 billion. 3M had a return on equity of 50.11% and a net margin of 12.83%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.16 EPS. equities analysts forecast that 3M Co will post 10.4 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 12th. Investors of record on Friday, May 18th were paid a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Thursday, May 17th. 3M’s dividend payout ratio (DPR) is currently 59.32%.
Several brokerages have weighed in on MMM. Vetr cut 3M from a “buy” rating to a “hold” rating and set a $251.35 target price for the company. in a report on Tuesday, February 27th. Zacks Investment Research cut 3M from a “hold” rating to a “sell” rating in a report on Wednesday, April 11th. Jefferies Financial Group cut 3M from a “buy” rating to a “hold” rating and lowered their target price for the stock from $259.77 to $200.00 in a report on Wednesday, May 16th. Argus lowered their target price on 3M from $285.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 25th. Finally, Royal Bank of Canada upgraded 3M from a “sector perform” rating to an “outperform” rating and set a $238.00 target price for the company in a report on Thursday, May 3rd. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. 3M currently has an average rating of “Hold” and an average price target of $240.65.
3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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