First Bancorp Inc ME Has $207,000 Stock Position in 3M (NYSE:MMM)

First Bancorp Inc ME decreased its position in 3M (NYSE:MMM) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,600 shares of the conglomerate’s stock after selling 106 shares during the quarter. First Bancorp Inc ME’s holdings in 3M were worth $207,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new position in 3M in the 3rd quarter valued at $27,000. McClarren Financial Advisors Inc. raised its holdings in 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 acquiring an additional 121 shares in the last quarter. True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares in the last quarter. ORG Partners LLC raised its holdings in 3M by 44.1% in the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after acquiring an additional 98 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in 3M in the 3rd quarter valued at $57,000. 65.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MMM has been the subject of several analyst reports. Citigroup lifted their price objective on 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays boosted their price target on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Wells Fargo & Company raised 3M from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $170.00 in a report on Wednesday. Finally, Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $148.87.

3M Trading Down 0.0 %

NYSE MMM opened at $149.61 on Friday. The business’s 50-day moving average price is $132.83 and its two-hundred day moving average price is $129.15. 3M has a 12 month low of $75.40 and a 12 month high of $152.08. The firm has a market capitalization of $81.47 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company’s quarterly revenue was down 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 earnings per share. On average, analysts expect that 3M will post 7.66 EPS for the current year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 1.87%. 3M’s payout ratio is currently 37.09%.

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.