Brighton Jones LLC Has $1.04 Million Position in 3M (NYSE:MMM)

Brighton Jones LLC boosted its holdings in shares of 3M (NYSE:MMM) by 5.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,502 shares of the conglomerate’s stock after acquiring an additional 522 shares during the period. Brighton Jones LLC’s holdings in 3M were worth $1,039,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of 3M by 6.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 209,511 shares of the conglomerate’s stock valued at $19,614,000 after buying an additional 12,812 shares during the period. Raymond James & Associates lifted its holdings in shares of 3M by 1.5% during the 3rd quarter. Raymond James & Associates now owns 787,242 shares of the conglomerate’s stock valued at $73,702,000 after purchasing an additional 11,927 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of 3M by 14.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 463,705 shares of the conglomerate’s stock valued at $43,412,000 after purchasing an additional 57,209 shares during the period. Simon Quick Advisors LLC bought a new stake in 3M during the 3rd quarter worth approximately $200,000. Finally, Capital Advisors Inc. OK raised its holdings in 3M by 2.9% during the 3rd quarter. Capital Advisors Inc. OK now owns 8,014 shares of the conglomerate’s stock worth $750,000 after buying an additional 229 shares during the period. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $111.00 in a report on Wednesday. Barclays cut their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a report on Tuesday, April 2nd. UBS Group increased their price objective on 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Royal Bank of Canada boosted their target price on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $103.70.

3M Trading Up 2.0 %

Shares of 3M stock opened at $98.42 on Thursday. 3M has a 12-month low of $71.12 and a 12-month high of $99.70. The company has a quick ratio of 0.76, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. The business’s 50 day moving average is $95.96 and its 200-day moving average is $97.55. The stock has a market cap of $54.46 billion, a P/E ratio of -7.74, a P/E/G ratio of 2.13 and a beta of 1.00.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The firm had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. During the same period in the prior year, the firm posted $1.97 earnings per share. Equities research analysts predict that 3M will post 7.05 earnings per share for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, February 15th. This represents a $6.04 dividend on an annualized basis and a yield of 6.14%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s dividend payout ratio (DPR) is presently -47.48%.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.34% of the company’s stock.

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.