Quattro Financial Advisors LLC purchased a new position in shares of 3M Co (NYSE:MMM) in the first quarter, HoldingsChannel reports. The firm purchased 557 shares of the conglomerate’s stock, valued at approximately $119,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballew Advisors Inc acquired a new position in 3M during the 1st quarter worth about $122,000. Stelac Advisory Services LLC acquired a new position in 3M during the 1st quarter worth about $125,000. Virtue Capital Management LLC acquired a new position in 3M during the 4th quarter worth about $127,000. Ford Financial Group Inc. acquired a new position in 3M during the 4th quarter worth about $143,000. Finally, Risk Paradigm Group LLC lifted its stake in 3M by 153.6% during the 4th quarter. Risk Paradigm Group LLC now owns 710 shares of the conglomerate’s stock worth $167,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.
Shares of 3M traded up $0.39, hitting $205.28, during midday trading on Thursday, according to MarketBeat.com. 11,320 shares of the company’s stock were exchanged, compared to its average volume of 2,785,543. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.17 and a current ratio of 1.65. 3M Co has a twelve month low of $191.44 and a twelve month high of $259.77. The firm has a market capitalization of $121.78 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 1.94 and a beta of 1.16.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Stockholders of record on Friday, May 18th were given a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Thursday, May 17th. 3M’s dividend payout ratio (DPR) is presently 59.32%.
A number of equities research analysts have issued reports on the company. Vetr lowered 3M from a “buy” rating to a “hold” rating and set a $251.35 price target on the stock. in a research report on Tuesday, February 27th. Barclays assumed coverage on 3M in a research report on Thursday, February 15th. They issued an “underweight” rating and a $235.00 price target on the stock. ValuEngine lowered 3M from a “buy” rating to a “hold” rating in a research report on Friday, March 23rd. Zacks Investment Research lowered 3M from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. Finally, Citigroup set a $284.00 price target on 3M and gave the company a “buy” rating in a research report on Saturday, March 24th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $240.65.
3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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