3M (NYSE:MMM) Shares Purchased by Telemus Capital LLC

Posted by on Mar 21st, 2023

Telemus Capital LLC raised its position in shares of 3M (NYSE:MMM – Get Rating) by 13.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,695 shares of the conglomerate’s stock after buying an additional 328 shares during the quarter. Telemus Capital LLC’s holdings in 3M were worth $342,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Options Solutions LLC raised its stake in 3M by 3.1% during the second quarter. Options Solutions LLC now owns 2,454 shares of the conglomerate’s stock valued at $318,000 after buying an additional 73 shares in the last quarter. Taylor Hoffman Wealth Management raised its position in shares of 3M by 1.3% during the 3rd quarter. Taylor Hoffman Wealth Management now owns 5,977 shares of the conglomerate’s stock worth $660,000 after purchasing an additional 77 shares during the period. Madison Wealth Management raised its position in shares of 3M by 1.3% during the 3rd quarter. Madison Wealth Management now owns 6,086 shares of the conglomerate’s stock worth $673,000 after purchasing an additional 78 shares during the period. Cadence Bank raised its position in shares of 3M by 0.3% during the 2nd quarter. Cadence Bank now owns 29,677 shares of the conglomerate’s stock worth $3,840,000 after purchasing an additional 79 shares during the period. Finally, Albert D Mason Inc. raised its position in shares of 3M by 3.7% during the 4th quarter. Albert D Mason Inc. now owns 2,392 shares of the conglomerate’s stock worth $287,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds own 65.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup increased their price target on 3M from $117.00 to $126.00 and gave the stock a “neutral” rating in a research report on Friday, December 9th. UBS Group dropped their price target on 3M from $124.00 to $115.00 in a research report on Wednesday, January 25th. Royal Bank of Canada dropped their price target on 3M from $113.00 to $106.00 in a research report on Wednesday, January 25th. Barclays decreased their price objective on 3M from $130.00 to $122.00 and set an “underweight” rating for the company in a report on Wednesday, January 25th. Finally, StockNews.com assumed coverage on 3M in a report on Thursday, March 16th. They issued a “hold” rating for the company. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $125.92.

3M Stock Performance

Shares of NYSE MMM opened at $104.31 on Tuesday. The stock has a fifty day moving average price of $113.78 and a two-hundred day moving average price of $118.46. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 1.54. The firm has a market cap of $57.42 billion, a P/E ratio of 10.28, a PEG ratio of 1.25 and a beta of 0.96. 3M has a 1 year low of $100.27 and a 1 year high of $154.66.

3M (NYSE:MMM – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $2.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.06). The firm had revenue of $8.10 billion for the quarter, compared to the consensus estimate of $8.09 billion. 3M had a net margin of 16.88% and a return on equity of 39.72%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.31 earnings per share. Research analysts forecast that 3M will post 8.65 EPS for the current fiscal year.

3M Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, March 12th. Stockholders of record on Friday, February 17th were paid a dividend of $1.50 per share. The ex-dividend date of this dividend was Thursday, February 16th. This is a positive change from 3M’s previous quarterly dividend of $1.49. This represents a $6.00 annualized dividend and a dividend yield of 5.75%. 3M’s dividend payout ratio (DPR) is currently 59.11%.

3M Profile

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

Further Reading

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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