XML Financial LLC Has $904,000 Stock Position in 3M (NYSE:MMM)

XML Financial LLC cut its holdings in 3M (NYSE:MMM) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,002 shares of the conglomerate’s stock after selling 499 shares during the quarter. XML Financial LLC’s holdings in 3M were worth $904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMM. FSA Wealth Management LLC acquired a new position in shares of 3M during the 3rd quarter valued at $27,000. Daymark Wealth Partners LLC raised 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 valued at $30,000 after purchasing an additional 17,211 shares during the period. McClarren Financial Advisors Inc. raised its holdings in shares of 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. ORG Partners LLC boosted its position 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 purchasing an additional 98 shares in the last quarter. Finally, True Wealth Design LLC increased its position 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 buying an additional 296 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MMM has been the topic of several recent research reports. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their price target for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Mizuho boosted 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. Melius Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a research note on Tuesday, October 22nd. Citigroup boosted their target price on shares of 3M from $142.00 to $152.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Two 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.87.

3M Stock Up 1.5 %

MMM stock opened at $149.14 on Thursday. The stock has a market cap of $81.21 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.30 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. The stock’s fifty day simple moving average is $131.73 and its two-hundred day simple moving average is $128.53. 3M has a 1-year low of $75.40 and a 1-year high of $152.08.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. 3M had a net margin of 15.37% and a return on equity of 104.66%. The company had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5,770,390 billion. During the same period in the previous year, the firm earned $2.42 EPS. The firm’s quarterly revenue was down 25.0% on a year-over-year basis. Analysts expect that 3M will post 7.28 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors 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 dividend on an annualized basis and a dividend yield of 1.88%. 3M’s dividend payout ratio (DPR) is presently 35.35%.

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.