Matrix Trust Co Acquires 633 Shares of 3M (NYSE:MMM)

Matrix Trust Co increased its holdings in shares of 3M (NYSE:MMM) by 602.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 738 shares of the conglomerate’s stock after acquiring an additional 633 shares during the quarter. Matrix Trust Co’s holdings in 3M were worth $95,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Aprio Wealth Management LLC increased its position in shares of 3M by 19.1% during the 4th quarter. Aprio Wealth Management LLC now owns 3,195 shares of the conglomerate’s stock valued at $412,000 after purchasing an additional 513 shares during the last quarter. Czech National Bank increased its holdings in 3M by 5.5% during the fourth quarter. Czech National Bank now owns 118,072 shares of the conglomerate’s stock worth $15,242,000 after buying an additional 6,163 shares during the last quarter. RMR Wealth Builders raised its position in 3M by 10.5% in the fourth quarter. RMR Wealth Builders now owns 12,982 shares of the conglomerate’s stock worth $1,676,000 after acquiring an additional 1,232 shares during the period. Trinity Financial Advisors LLC purchased a new position in 3M in the fourth quarter valued at about $204,000. Finally, HBW Advisory Services LLC grew its position in shares of 3M by 1.5% during the 4th quarter. HBW Advisory Services LLC now owns 21,086 shares of the conglomerate’s stock valued at $2,722,000 after acquiring an additional 312 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays dropped their price objective on 3M from $165.00 to $161.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Melius Research raised 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. UBS Group raised 3M from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $130.00 to $184.00 in a report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Finally, Bank of America lifted their target price on shares of 3M from $143.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, 3M has a consensus rating of “Moderate Buy” and an average target price of $144.33.

3M Trading Up 2.5 %

3M stock opened at $134.54 on Tuesday. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. 3M has a fifty-two week low of $75.40 and a fifty-two week high of $141.34. The stock has a market cap of $73.26 billion, a P/E ratio of 16.99, a PEG ratio of 2.15 and a beta of 0.95. The firm’s fifty day moving average price is $130.69 and its 200-day moving average price is $126.87.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.68 EPS. Equities research analysts forecast that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 15th were given a dividend of $0.70 per share. The ex-dividend date was Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.08%. 3M’s payout ratio is presently 35.35%.

About 3M

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.