Aptus Capital Advisors LLC Purchases 948 Shares of 3M (NYSE:MMM)

Aptus Capital Advisors LLC boosted its holdings in shares of 3M (NYSE:MMM) by 16.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,814 shares of the conglomerate’s stock after buying an additional 948 shares during the period. Aptus Capital Advisors LLC’s holdings in 3M were worth $880,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. Financial Life Planners purchased a new position in shares of 3M during the fourth quarter worth about $25,000. Hazlett Burt & Watson Inc. purchased a new position in 3M in the 4th quarter worth approximately $27,000. Meeder Asset Management Inc. increased its holdings in shares of 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after buying an additional 214 shares during the last quarter. ORG Partners LLC raised its position in shares of 3M by 44.1% during the 4th quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares in the last quarter. Finally, Catalyst Capital Advisors LLC grew its position in 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after acquiring an additional 163 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MMM. Barclays raised their price target on 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Citigroup decreased their target price on shares of 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Bank of America upped their price target on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. JPMorgan Chase & Co. dropped their target price on 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company upgraded 3M from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, 3M currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

3M Trading Down 1.9 %

MMM opened at $138.15 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52 week low of $95.01 and a 52 week high of $156.35. The stock has a market cap of $74.35 billion, a PE ratio of 18.30, a PEG ratio of 3.30 and a beta of 1.02. The business has a 50 day moving average of $141.95 and a 200-day moving average of $138.42.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

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.