Pathstone Holdings LLC Has $10.14 Million Stock Position in 3M (NYSE:MMM)

Pathstone Holdings LLC lifted its position in 3M (NYSE:MMM) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,143 shares of the conglomerate’s stock after buying an additional 1,054 shares during the quarter. Pathstone Holdings LLC’s holdings in 3M were worth $10,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MMM. MFA Wealth Advisors LLC acquired a new position in 3M during the 2nd quarter valued at $28,000. Daymark Wealth Partners LLC raised its stake in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. raised its stake in 3M by 118.6% during the 3rd 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 last quarter. Meeder Asset Management Inc. raised its stake in 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 269 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in 3M during the 2nd quarter valued at $33,000. 65.25% of the stock is currently owned by institutional investors and hedge funds.

3M Stock Down 0.3 %

MMM opened at $127.83 on Thursday. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The firm’s 50-day simple moving average is $132.75 and its 200-day simple moving average is $118.67. 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 firm has a market cap of $69.61 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 2.15 and a beta of 0.95.

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

3M Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Friday, November 15th. 3M’s dividend payout ratio is currently 35.35%.

Analysts Set New Price Targets

Several research firms recently commented on MMM. StockNews.com cut shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft raised shares of 3M from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $150.00 in a report on Monday, July 29th. Mizuho boosted their price target on shares of 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays boosted their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.