True Wealth Design LLC Has $58,000 Stock Position in 3M (NYSE:MMM)

True Wealth Design LLC boosted its stake in shares of 3M (NYSE:MMM) by 45.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 449 shares of the conglomerate’s stock after buying an additional 141 shares during the period. True Wealth Design LLC’s holdings in 3M were worth $58,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of MMM. Financial Life Planners acquired a new stake in 3M during the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC acquired a new stake in shares of 3M in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of 3M in the fourth quarter valued at approximately $27,000. Daymark Wealth Partners LLC raised its holdings in shares of 3M by 9.0% in the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 19,552 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 214 shares during the last quarter. 65.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MMM. Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Citigroup decreased their target price on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Royal Bank of Canada raised their target price on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, April 23rd. Barclays raised their target price on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of 3M in a research note on Saturday, May 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, 3M currently has an average rating of “Moderate Buy” and a consensus price target of $152.08.

3M Trading Up 2.9%

NYSE MMM opened at $153.11 on Friday. The stock has a market capitalization of $82.40 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.30 and a beta of 1.02. 3M has a one year low of $96.76 and a one year high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The business’s fifty day moving average is $141.60 and its 200-day moving average is $139.40.

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

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be paid a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.91%. 3M’s dividend payout ratio is currently 36.87%.

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.