Front Row Advisors LLC Takes Position in 3M Co (MMM)
Front Row Advisors LLC bought a new position in shares of 3M Co (NYSE:MMM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,198 shares of the conglomerate’s stock, valued at approximately $1,459,000. 3M comprises 1.2% of Front Row Advisors LLC’s holdings, making the stock its 25th largest holding.
A number of other institutional investors and hedge funds also recently modified their holdings of MMM. APG Asset Management N.V. boosted its holdings in 3M by 128.1% during the fourth quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock worth $279,776,000 after buying an additional 801,639 shares during the last quarter. Bank of Montreal Can boosted its holdings in 3M by 38.9% during the fourth quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock worth $218,981,000 after buying an additional 260,349 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in 3M by 4.7% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock worth $746,391,000 after buying an additional 142,799 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in 3M during the third quarter worth about $28,564,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in 3M by 14.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 772,419 shares of the conglomerate’s stock worth $181,802,000 after buying an additional 99,510 shares during the last quarter. Hedge funds and other institutional investors own 66.38% of the company’s stock.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $290.00 target price on the stock in a report on Tuesday, January 30th. Royal Bank of Canada reiterated a “hold” rating and set a $254.00 price objective on shares of 3M in a report on Thursday, January 25th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $221.00 price objective (up previously from $208.00) on shares of 3M in a report on Thursday, January 18th. UBS Group began coverage on 3M in a report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 price objective on the stock. Finally, Hilliard Lyons upgraded 3M from a “neutral” rating to a “buy” rating and set a $285.00 price objective on the stock in a report on Wednesday, January 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $249.93.
Shares of 3M Co (MMM) opened at $225.21 on Friday. The company has a market capitalization of $134,112.56, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 2.09 and a beta of 1.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. 3M Co has a 12 month low of $176.87 and a 12 month high of $259.77.
3M (NYSE:MMM) last released its earnings results on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.07. The firm had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 EPS. equities research analysts expect that 3M Co will post 10.6 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a $1.36 dividend. This is a boost from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $5.44 annualized dividend and a yield of 2.42%. 3M’s payout ratio is presently 59.34%.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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