481 Shares in 3M (NYSE:MMM) Purchased by EWG Elevate Inc.

EWG Elevate Inc. purchased a new position in shares of 3M (NYSE:MMM – Get Rating) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 481 shares of the conglomerate’s stock, valued at approximately $58,000.

A number of other large investors have also recently made changes to their positions in the company. Glassy Mountain Advisors Inc. purchased a new stake in 3M in the 4th quarter valued at about $104,000. Phocas Financial Corp. purchased a new stake in 3M in the 4th quarter valued at about $76,000. Gries Financial LLC boosted its position in 3M by 6.9% in the 4th quarter. Gries Financial LLC now owns 8,206 shares of the conglomerate’s stock valued at $984,000 after buying an additional 527 shares during the period. Coldstream Capital Management Inc. purchased a new stake in 3M in the 4th quarter valued at about $1,038,000. Finally, Gradient Investments LLC boosted its position in 3M by 11.3% in the 4th quarter. Gradient Investments LLC now owns 118,898 shares of the conglomerate’s stock valued at $14,258,000 after buying an additional 12,116 shares during the period. 65.61% of the stock is owned by hedge funds and other institutional investors.

3M Stock Performance

Shares of MMM opened at $103.02 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.54. The stock has a 50-day moving average of $114.23 and a two-hundred day moving average of $118.65. The stock has a market cap of $56.71 billion, a P/E ratio of 10.15, a P/E/G ratio of 1.27 and a beta of 0.96. 3M has a one year low of $100.27 and a one year high of $154.66.

3M (NYSE:MMM – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $2.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.06). 3M had a return on equity of 39.72% and a net margin of 16.88%. The firm had revenue of $8.10 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same quarter in the previous year, the business earned $2.31 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. As a group, research analysts predict that 3M will post 8.65 EPS for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, March 12th. Stockholders of record on Friday, February 17th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 5.82%. This is a boost from 3M’s previous quarterly dividend of $1.49. The ex-dividend date of this dividend was Thursday, February 16th. 3M’s dividend payout ratio (DPR) is presently 59.11%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MMM. Mizuho lowered their price target on shares of 3M from $130.00 to $120.00 and set a “neutral” rating for the company in a research report on Thursday, January 26th. Citigroup upped their price target on shares of 3M from $117.00 to $126.00 and gave the stock a “neutral” rating in a research report on Friday, December 9th. Wells Fargo & Company lowered their price target on shares of 3M from $125.00 to $115.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 25th. Royal Bank of Canada lowered their price target on shares of 3M from $113.00 to $106.00 in a research report on Wednesday, January 25th. Finally, Barclays lowered their price target on shares of 3M from $130.00 to $122.00 and set an “underweight” rating for the company in a research report on Wednesday, January 25th. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, 3M currently has an average rating of “Hold” and a consensus price target of $125.92.

3M Profile

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.