3M (NYSE:MMM) Stock Holdings Lowered by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC lowered its position in shares of 3M (NYSE:MMM) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,215 shares of the conglomerate’s stock after selling 326 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in 3M were worth $1,319,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of MMM. Financial Life Planners bought a new position in shares of 3M during the fourth quarter worth about $25,000. Proficio Capital Partners LLC bought a new position in 3M in the 4th quarter valued at about $26,000. Hazlett Burt & Watson Inc. bought a new position in 3M in the 4th quarter valued at about $27,000. Daymark Wealth Partners LLC grew 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 in the last quarter. Finally, Meeder Asset Management Inc. grew 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 in the last quarter. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MMM shares. Barclays increased their target price on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Citigroup decreased their target price on shares of 3M from $152.00 to $142.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada increased their target price on shares of 3M from $98.00 to $100.00 and gave the company an “underperform” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of 3M from $165.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Finally, Bank of America raised their price objective on shares of 3M from $175.00 to $179.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

3M Price Performance

NYSE MMM opened at $150.73 on Wednesday. The company has a 50 day simple moving average of $141.43 and a 200-day simple moving average of $138.96. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The firm has a market capitalization of $81.12 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 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. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. Equities research analysts predict that 3M will post 7.8 earnings per share for the current fiscal year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be given a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 1.94%. 3M’s payout ratio is presently 36.87%.

About 3M

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.