CWS Financial Advisors LLC Invests $243,000 in 3M (NYSE:MMM)

CWS Financial Advisors LLC bought a new position in 3M (NYSE:MMM) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,777 shares of the conglomerate’s stock, valued at approximately $243,000.

A number of other hedge funds have also recently modified their holdings of the stock. Infrastructure Capital Advisors LLC purchased a new stake in shares of 3M in the third quarter worth about $202,000. Vinva Investment Management Ltd raised its holdings in 3M by 2.6% in the 3rd quarter. Vinva Investment Management Ltd now owns 19,584 shares of the conglomerate’s stock worth $2,689,000 after purchasing an additional 502 shares during the period. Public Sector Pension Investment Board raised its holdings in 3M by 10.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 23,580 shares of the conglomerate’s stock worth $3,223,000 after purchasing an additional 2,200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock worth $521,596,000 after purchasing an additional 43,942 shares during the period. Finally, True Vision MN LLC raised its holdings in 3M by 11.0% in the 3rd quarter. True Vision MN LLC now owns 5,567 shares of the conglomerate’s stock worth $761,000 after purchasing an additional 552 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MMM shares. Wells Fargo & Company upped their price target on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Mizuho increased their target price on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays increased their target price on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group raised 3M from a “neutral” rating to a “buy” rating and increased their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $144.87.

3M Price Performance

NYSE:MMM opened at $132.48 on Friday. The stock has a market cap of $72.14 billion, a PE ratio of 16.73, a P/E/G ratio of 2.19 and a beta of 0.95. 3M has a one year low of $75.40 and a one year high of $141.34. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The stock has a 50 day moving average price of $132.42 and a 200 day moving average price of $119.92.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.05. The company had revenue of $6.29 billion during 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 firm’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 earnings per share. Equities research analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 2.11%. 3M’s dividend payout ratio is currently 35.35%.

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.