J2 Capital Management Inc Buys Shares of 3,497 3M (NYSE:MMM)

J2 Capital Management Inc bought a new stake in 3M (NYSE:MMM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,497 shares of the conglomerate’s stock, valued at approximately $451,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. FSA Wealth Management LLC acquired a new position in 3M during the third quarter valued at approximately $27,000. Daymark Wealth Partners LLC raised its holdings in shares of 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 buying an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake 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 buying an additional 121 shares in the last quarter. ORG Partners LLC grew its position 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 raised its stake in 3M by 2,466.7% during the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Trading Up 1.3 %

NYSE:MMM opened at $141.02 on Friday. 3M has a 52 week low of $75.40 and a 52 week high of $141.66. The firm’s fifty day moving average is $131.24 and its 200-day moving average is $127.56. The firm has a market cap of $76.80 billion, a P/E ratio of 17.81, a P/E/G ratio of 2.01 and a beta of 0.95. 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 (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 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 business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The business’s quarterly revenue was down 24.3% compared to the same quarter last year. Equities analysts expect that 3M will post 7.27 earnings per share for the current 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 issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 35.35%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price target on shares of 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Bank of America boosted 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. UBS Group upgraded 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. JPMorgan Chase & Co. lowered their target price on 3M from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company increased their target price on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $144.13.

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.