Investors Asset Management of Georgia Inc. GA ADV Has $399,000 Holdings in 3M (NYSE:MMM)

Investors Asset Management of Georgia Inc. GA ADV lifted its stake in shares of 3M (NYSE:MMMFree Report) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,417 shares of the conglomerate’s stock after purchasing an additional 250 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in 3M were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Financial Freedom LLC purchased a new position in 3M in the 4th quarter worth $25,000. DHJJ Financial Advisors Ltd. bought a new position in shares of 3M in the third quarter worth approximately $28,000. Briaud Financial Planning Inc bought a new stake in shares of 3M in the 3rd quarter worth $35,000. Authentikos Wealth Advisory LLC purchased a new position in 3M in the 3rd quarter worth about $37,000. Finally, Psagot Value Holdings Ltd. Israel bought a new position in 3M during the third quarter valued at approximately $44,000. Hedge funds and other institutional investors own 65.24% of the company’s stock.

3M Stock Performance

MMM traded up $1.73 during trading on Monday, hitting $94.63. 4,086,179 shares of the company traded hands, compared to its average volume of 4,451,185. The firm has a market cap of $52.30 billion, a P/E ratio of -7.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock’s fifty day moving average is $103.29 and its 200 day moving average is $99.56. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a one year low of $85.35 and a one year high of $115.62.

3M (NYSE:MMMGet Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.11. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the business earned $2.28 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts predict that 3M will post 9.56 EPS for the current fiscal year.

3M Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th will be paid a $1.51 dividend. The ex-dividend date is Thursday, February 15th. This represents a $6.04 annualized dividend and a dividend yield of 6.38%. This is a boost from 3M’s previous quarterly dividend of $1.50. 3M’s payout ratio is currently -47.51%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Barclays raised 3M from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $98.00 to $107.00 in a report on Monday, December 4th. StockNews.com raised shares of 3M from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. Royal Bank of Canada lifted their target price on 3M from $83.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday, January 24th. Mizuho lowered their price target on 3M from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, Wells Fargo & Company dropped their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, 3M has a consensus rating of “Hold” and an average price target of $106.00.

Check Out Our Latest Stock Report on 3M

3M Company Profile

(Free Report)

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

See Also

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M (NYSE:MMMFree Report).

Institutional Ownership by Quarter for 3M (NYSE:MMM)

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.