TSA Wealth Managment LLC Invests $250,000 in 3M (NYSE:MMM)

TSA Wealth Managment LLC purchased a new position in 3M (NYSE:MMM) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,828 shares of the conglomerate’s stock, valued at approximately $250,000.

A number of other institutional investors also recently bought and sold shares of the business. MFA Wealth Advisors LLC acquired a new stake in shares of 3M during the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC boosted its stake in 3M by 8.6% during the third quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock worth $30,000 after buying an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% in the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 121 shares during the period. Meeder Asset Management Inc. grew its stake in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the period. Finally, TruNorth Capital Management LLC purchased a new position in 3M in the second quarter worth approximately $33,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MMM shares. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $145.00 price target for the company in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $150.00 in a report on Monday, July 29th. Wells Fargo & Company increased their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. UBS Group upgraded shares of 3M from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $130.00 to $184.00 in a research note on Wednesday. Finally, Citigroup boosted their price objective on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $144.87.

3M Price Performance

NYSE MMM opened at $129.76 on Friday. The stock’s 50-day moving average price is $132.80 and its two-hundred day moving average price is $117.87. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $70.66 billion, a PE ratio of 16.38, a PEG ratio of 2.17 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The business 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 was down 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 EPS. On average, analysts predict that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, November 15th. 3M’s dividend payout ratio (DPR) is presently 35.35%.

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.