Clifford Capital Partners LLC Has $17.94 Million Holdings in 3M (NYSE:MMM)

Clifford Capital Partners LLC trimmed its position in 3M (NYSE:MMM) by 23.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,229 shares of the conglomerate’s stock after selling 39,923 shares during the quarter. 3M makes up approximately 3.6% of Clifford Capital Partners LLC’s portfolio, making the stock its 8th biggest holding. Clifford Capital Partners LLC’s holdings in 3M were worth $17,939,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. D.A. Davidson & CO. raised its position in shares of 3M by 16.2% during the 3rd quarter. D.A. Davidson & CO. now owns 146,333 shares of the conglomerate’s stock valued at $20,004,000 after buying an additional 20,421 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of 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 position in 3M by 5.6% in the 3rd quarter. Stonegate Investment Group LLC now owns 252,847 shares of the conglomerate’s stock worth $34,564,000 after purchasing an additional 13,473 shares during the period. Ausdal Financial Partners Inc. lifted its stake in 3M by 6.7% in the second quarter. Ausdal Financial Partners Inc. now owns 3,991 shares of the conglomerate’s stock worth $408,000 after purchasing an additional 249 shares during the last quarter. Finally, Candriam S.C.A. boosted its position in 3M by 19.2% during the second quarter. Candriam S.C.A. now owns 38,469 shares of the conglomerate’s stock valued at $3,931,000 after buying an additional 6,185 shares during the period. 65.25% of the stock is currently owned by institutional investors.

3M Stock Performance

Shares of 3M stock opened at $132.95 on Wednesday. The stock has a market cap of $72.40 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.16 and a beta of 0.95. 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 has a 1 year low of $75.40 and a 1 year high of $141.34. The firm’s 50-day moving average is $132.46 and its 200 day moving average is $119.75.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The firm’s quarterly revenue was down 24.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.68 EPS. Sell-side analysts anticipate that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.11%. 3M’s payout ratio is 35.35%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MMM shares. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Barclays raised their target price on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Melius raised 3M from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price objective on 3M from $99.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.