Eagle Bluffs Wealth Management LLC Acquires 246 Shares of 3M (NYSE:MMM)

Eagle Bluffs Wealth Management LLC grew its holdings in shares of 3M (NYSE:MMM) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,635 shares of the conglomerate’s stock after purchasing an additional 246 shares during the quarter. Eagle Bluffs Wealth Management LLC’s holdings in 3M were worth $1,381,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Freedom LLC purchased a new position in 3M during the fourth quarter worth about $25,000. DHJJ Financial Advisors Ltd. purchased a new position in 3M during the third quarter worth about $28,000. CGC Financial Services LLC grew its position in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock worth $37,000 after buying an additional 160 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in 3M during the third quarter worth about $35,000. Finally, Authentikos Wealth Advisory LLC purchased a new position in 3M during the third quarter worth about $37,000. Institutional investors own 65.25% of the company’s stock.

3M Price Performance

MMM stock traded down $0.20 during trading on Tuesday, reaching $91.10. The company’s stock had a trading volume of 2,093,879 shares, compared to its average volume of 5,956,852. The company has a market capitalization of $50.41 billion, a P/E ratio of -7.19, a price-to-earnings-growth ratio of 1.61 and a beta of 1.02. The company’s fifty day moving average is $95.92 and its 200-day moving average is $97.32. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a 1 year low of $71.12 and a 1 year high of $95.67.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion during the quarter, compared to analyst estimates of $7.69 billion. 3M had a positive return on equity of 62.45% and a negative net margin of 21.40%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 earnings per share. On average, research analysts expect that 3M will post 8.79 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were given a $1.51 dividend. The ex-dividend date was Thursday, February 15th. This represents a $6.04 annualized dividend and a yield of 6.63%. This is a positive change from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is currently -47.82%.

Insider Buying and Selling

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Mizuho reaffirmed a “neutral” rating and set a $105.00 price target on shares of 3M in a research note on Wednesday, March 27th. Citigroup lifted their price target on 3M from $95.31 to $98.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Bank of America dropped their price target on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Wells Fargo & Company lowered their target price on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Finally, Barclays lowered their target price on 3M from $126.00 to $107.00 and set an “overweight” rating for the company in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $103.50.

3M Company 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.