KMG Fiduciary Partners LLC Acquires 1,537 Shares of 3M (NYSE:MMM)

KMG Fiduciary Partners LLC boosted its holdings in 3M (NYSE:MMM) by 9.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,723 shares of the conglomerate’s stock after purchasing an additional 1,537 shares during the period. KMG Fiduciary Partners LLC’s holdings in 3M were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MMM. FSA Wealth Management LLC bought a new position in 3M in the third quarter valued at $27,000. Daymark Wealth Partners LLC grew its position in 3M by 8.6% in 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 in the last quarter. McClarren Financial Advisors Inc. grew its position in 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 purchasing an additional 121 shares in the last quarter. ORG Partners LLC lifted its stake in 3M by 44.1% in 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 during the last quarter. Finally, True Wealth Design LLC lifted its stake in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock valued at $42,000 after acquiring an additional 296 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of NYSE:MMM opened at $139.19 on Friday. The firm has a 50 day moving average of $130.99 and a 200-day moving average of $127.20. The stock has a market capitalization of $75.79 billion, a PE ratio of 17.57, 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 $141.34.

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

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, November 15th. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analyst Upgrades and Downgrades

MMM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and increased their price target for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. 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. Bank of America raised their target price on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Mizuho raised their target price on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.13.

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.