Folger Nolan Fleming Douglas Capital Management Inc. Has $1.65 Million Stake in 3M (NYSE:MMM)

Folger Nolan Fleming Douglas Capital Management Inc. lifted its stake in shares of 3M (NYSE:MMM) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,756 shares of the conglomerate’s stock after acquiring an additional 89 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in 3M were worth $1,647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FSA Wealth Management LLC acquired a new stake in 3M in the 3rd quarter valued at approximately $27,000. McClarren Financial Advisors Inc. increased its stake 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 buying an additional 121 shares during the last quarter. True Wealth Design LLC lifted its position in 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after buying an additional 296 shares in the last quarter. ORG Partners LLC boosted its stake in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of 3M in the 3rd quarter valued at about $57,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Price Performance

3M stock opened at $141.02 on Friday. The company has a market capitalization of $76.80 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.01 and a beta of 0.95. 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 has a 12 month low of $75.40 and a 12 month high of $141.66. The stock’s 50 day moving average is $131.11 and its 200-day moving average is $127.28.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. Equities research analysts expect that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho upped their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $130.00 to $184.00 in a research note on Wednesday, November 13th. Wells Fargo & Company increased their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Royal Bank of Canada lowered their target price on shares of 3M from $100.00 to $96.00 and set an “underperform” rating on the stock in a report on Friday, January 3rd. Finally, Melius Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.13.

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.