Windle Wealth LLC Increases Stock Position in 3M (NYSE:MMM)

Windle Wealth LLC grew its position in 3M (NYSE:MMMFree Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 57,543 shares of the conglomerate’s stock after buying an additional 4,202 shares during the period. 3M makes up about 4.4% of Windle Wealth LLC’s investment portfolio, making the stock its 7th largest holding. Windle Wealth LLC’s holdings in 3M were worth $6,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MMM. Briaud Financial Planning Inc bought a new position in shares of 3M during the third quarter valued at $35,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of 3M during the 3rd quarter valued at about $37,000. CGC Financial Services LLC raised its holdings in shares of 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares during the last quarter. VisionPoint Advisory Group LLC lifted its position in 3M by 91.9% during the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the period. Finally, HHM Wealth Advisors LLC grew its position in 3M by 275.6% in the 3rd quarter. HHM Wealth Advisors LLC now owns 477 shares of the conglomerate’s stock worth $45,000 after purchasing an additional 350 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

Shares of MMM traded up $0.40 during mid-day trading on Friday, hitting $105.26. 5,396,497 shares of the stock were exchanged, compared to its average volume of 5,279,983. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64. The company has a market cap of $58.25 billion, a PE ratio of -8.28, a price-to-earnings-growth ratio of 1.94 and a beta of 1.00. 3M has a 52-week low of $71.12 and a 52-week high of $105.72. The firm has a 50-day moving average of $97.60 and a two-hundred day moving average of $98.43.

3M (NYSE:MMMGet Free Report) last announced its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.29. The firm had revenue of $8 billion for the quarter, compared to analysts’ expectations of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same period in the prior year, the company earned $1.97 EPS. On average, equities analysts predict that 3M will post 7.23 earnings per share for the current year.

3M Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date is Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is -47.48%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MMM. Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada raised their price objective on shares of 3M from $78.00 to $87.00 and gave the stock an “underperform” rating in a report on Wednesday, May 1st. StockNews.com assumed coverage on shares of 3M in a report on Monday, May 13th. They set a “buy” rating for the company. Barclays dropped their price target on shares of 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Finally, Citigroup raised their target price on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $107.55.

Read Our Latest Stock Analysis on MMM

3M Profile

(Free Report)

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.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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