Raab & Moskowitz Asset Management LLC Has $312,000 Holdings in 3M (NYSE:MMM)

Raab & Moskowitz Asset Management LLC decreased its holdings in 3M (NYSE:MMM) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,282 shares of the conglomerate’s stock after selling 122 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in 3M were worth $312,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. FSA Wealth Management LLC bought a new position in shares of 3M during the third quarter worth approximately $27,000. MFA Wealth Advisors LLC acquired a new stake in 3M during the second quarter worth approximately $28,000. Daymark Wealth Partners LLC increased its stake in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after acquiring an additional 17,211 shares during the period. 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. Finally, Meeder Asset Management Inc. raised its holdings 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 acquiring an additional 269 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Stock Down 0.2 %

Shares of MMM opened at $133.11 on Monday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a 52 week low of $75.40 and a 52 week high of $141.34. The stock has a market capitalization of $72.49 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.20 and a beta of 0.95. The stock has a fifty day moving average of $131.89 and a 200-day moving average of $121.43.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for 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 revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 earnings per share. As a group, sell-side analysts anticipate that 3M will post 7.27 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Royal Bank of Canada raised their target price on shares of 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Barclays increased their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Bank of America lifted their price objective on shares of 3M from $143.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.87.

3M 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.