Windle Wealth LLC Has $8.46 Million Stock Holdings in 3M (NYSE:MMM)

Windle Wealth LLC reduced its position in shares of 3M (NYSE:MMM) by 5.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,869 shares of the conglomerate’s stock after selling 3,378 shares during the period. 3M accounts for approximately 4.6% of Windle Wealth LLC’s holdings, making the stock its 5th biggest position. Windle Wealth LLC’s holdings in 3M were worth $8,457,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Ballentine Partners LLC raised its stake in 3M by 40.1% during the 3rd quarter. Ballentine Partners LLC now owns 18,217 shares of the conglomerate’s stock valued at $2,490,000 after purchasing an additional 5,210 shares during the last quarter. Stonegate Investment Group LLC raised its stake in 3M by 5.6% during the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock valued at $34,564,000 after purchasing an additional 13,473 shares during the last quarter. Ausdal Financial Partners Inc. raised its stake in 3M by 6.7% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock valued at $408,000 after purchasing an additional 249 shares during the last quarter. Candriam S.C.A. raised its stake in 3M by 19.2% during the 2nd quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock valued at $3,931,000 after purchasing an additional 6,185 shares during the last quarter. Finally, True Vision MN LLC acquired a new position in shares of 3M in the 2nd quarter valued at $512,000. 65.25% of the stock is owned by institutional investors.

3M Price Performance

NYSE:MMM opened at $130.17 on Tuesday. 3M has a one year low of $75.40 and a one year high of $141.34. The company has a market cap of $70.89 billion, a P/E ratio of 16.44, a P/E/G ratio of 2.15 and a beta of 0.95. The firm’s fifty day moving average price is $132.84 and its two-hundred day moving average price is $118.39. The company has a debt-to-equity ratio of 2.41, a current ratio of 1.43 and a quick ratio of 1.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same quarter in the previous year, the business posted $2.68 earnings per share. 3M’s quarterly revenue was down 24.3% on a year-over-year basis. Equities analysts expect that 3M will post 7.27 earnings per share for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.15%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analysts Set New Price Targets

MMM has been the subject of a number of recent research reports. Morgan Stanley initiated coverage on shares of 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. UBS Group raised shares of 3M from a “neutral” rating to a “buy” rating and raised their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. Citigroup lifted their price target on shares of 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Barclays boosted their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.