TSA Wealth Managment LLC Buys New Holdings in 3M (NYSE:MMM)

TSA Wealth Managment LLC purchased a new position in shares of 3M (NYSE:MMM) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 1,828 shares of the conglomerate’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MFA Wealth Advisors LLC bought a new stake in shares of 3M in the 2nd quarter worth about $28,000. Daymark Wealth Partners LLC increased its holdings in shares of 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. raised its stake in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. Meeder Asset Management Inc. grew its position in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in 3M in the 2nd quarter valued at $33,000. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

MMM opened at $129.76 on Friday. 3M has a 1-year low of $75.40 and a 1-year high of $141.34. The company has a market cap of $70.66 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 2.17 and a beta of 0.95. The company’s fifty day moving average price is $132.80 and its two-hundred day moving average price is $117.87. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, topping the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during the quarter, compared to the consensus estimate of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. On average, analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s payout ratio is 35.35%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $150.00 in a research report on Monday, July 29th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a report on Wednesday. Finally, Barclays raised their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.