Lionshead Wealth Management LLC Purchases New Holdings in 3M (NYSE:MMM)

Lionshead Wealth Management LLC purchased a new stake in shares of 3M (NYSE:MMM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,105 shares of the conglomerate’s stock, valued at approximately $272,000.

Other large investors have also modified their holdings of the company. Financial Life Planners bought a new stake in shares of 3M during the 4th quarter worth approximately $25,000. Proficio Capital Partners LLC bought a new position in shares of 3M in the fourth quarter worth about $26,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the fourth quarter worth about $27,000. Daymark Wealth Partners LLC boosted its position in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate’s stock valued at $31,000 after buying an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in 3M by 230.1% in the 4th quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock valued at $40,000 after buying an additional 214 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Up 0.8%

MMM stock opened at $142.25 on Monday. The firm has a 50 day moving average of $141.31 and a 200 day moving average of $138.70. The stock has a market capitalization of $76.56 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. 3M has a 52 week low of $96.76 and a 52 week high of $156.35.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Sell-side analysts forecast that 3M will post 7.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citigroup decreased their price target on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. dropped their price target on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Barclays increased their price target on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of 3M in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.29.

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.