Secure Asset Management LLC Purchases Shares of 1,642 3M (NYSE:MMM)

Secure Asset Management LLC acquired a new position in 3M (NYSE:MMM) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,642 shares of the conglomerate’s stock, valued at approximately $212,000.

Several other institutional investors have also recently made changes to their positions in the business. FSA Wealth Management LLC bought a new position in 3M in the 3rd quarter worth approximately $27,000. McClarren Financial Advisors Inc. boosted its position in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. True Wealth Design LLC boosted its position in shares of 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares during the last quarter. ORG Partners LLC grew its stake in 3M by 44.1% during the fourth 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 bought a new stake in 3M in the 3rd quarter valued at $57,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Trading Down 0.0 %

MMM opened at $149.61 on Friday. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The stock’s 50 day moving average price is $132.83 and its 200-day moving average price is $129.15. 3M has a one year low of $75.40 and a one year high of $152.08. The stock has a market cap of $81.47 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 2.46 and a beta of 0.95.

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

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given 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 dividend payout ratio (DPR) is 37.09%.

Analysts Set New Price Targets

MMM has been the subject of a number of research analyst reports. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and raised their price objective for the company from $130.00 to $184.00 in a research report on Wednesday, November 13th. Barclays lifted their price objective on 3M from $161.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday. Bank of America increased their target price on 3M from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of 3M from $162.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Mizuho upped their price target 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average target price of $148.87.

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.