Nisa Investment Advisors LLC lessened its holdings in shares of 3M Co (NYSE:MMM) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 245,413 shares of the conglomerate’s stock after selling 852 shares during the quarter. Nisa Investment Advisors LLC’s holdings in 3M were worth $57,758,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. UBS Asset Management Americas Inc. boosted its holdings in 3M by 4.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock valued at $399,069,000 after acquiring an additional 89,307 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of 3M by 0.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock worth $356,877,000 after buying an additional 8,500 shares during the period. Rhumbline Advisers lifted its holdings in shares of 3M by 0.9% in the 3rd quarter. Rhumbline Advisers now owns 1,124,531 shares of the conglomerate’s stock worth $236,039,000 after buying an additional 9,617 shares during the period. Coho Partners Ltd. lifted its holdings in shares of 3M by 26.8% in the 2nd quarter. Coho Partners Ltd. now owns 687,532 shares of the conglomerate’s stock worth $143,137,000 after buying an additional 145,318 shares during the period. Finally, Schroder Investment Management Group lifted its holdings in shares of 3M by 14.9% in the 3rd quarter. Schroder Investment Management Group now owns 636,466 shares of the conglomerate’s stock worth $133,371,000 after buying an additional 82,632 shares during the period. 66.28% of the stock is currently owned by institutional investors.
In other 3M news, Chairman Inge G. Thulin sold 35,236 shares of 3M stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the completion of the sale, the chairman now directly owns 253,873 shares of the company’s stock, valued at approximately $63,757,665.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hak Cheol Shin sold 8,385 shares of 3M stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $247.20, for a total value of $2,072,772.00. Following the sale, the insider now owns 120,105 shares in the company, valued at approximately $29,689,956. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,527 shares of company stock valued at $11,397,966. 0.58% of the stock is currently owned by company insiders.
Several research firms have recently commented on MMM. Citigroup reissued a “buy” rating and issued a $250.00 price target (up from $228.00) on shares of 3M in a research report on Monday, October 9th. Credit Suisse Group reaffirmed an “outperform” rating and set a $237.00 target price (up from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Royal Bank of Canada reaffirmed a “hold” rating and set a $205.00 target price on shares of 3M in a research report on Friday, October 13th. Goldman Sachs Group raised 3M from a “sell” rating to a “neutral” rating and upped their target price for the company from $194.00 to $229.00 in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus increased their price objective on 3M from $220.00 to $244.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. 3M currently has a consensus rating of “Hold” and a consensus target price of $245.45.
3M Co (MMM) traded down $2.77 during trading hours on Friday, hitting $245.17. The company had a trading volume of 3,925,658 shares, compared to its average volume of 2,219,658. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86. The firm has a market capitalization of $145,847.70, a PE ratio of 30.96, a PEG ratio of 2.27 and a beta of 1.08. 3M Co has a 12-month low of $173.85 and a 12-month high of $259.77.
3M (NYSE:MMM) last posted its earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same quarter last year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. sell-side analysts forecast that 3M Co will post 10.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $1.36 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a yield of 2.22%. 3M’s dividend payout ratio (DPR) is 59.34%.
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3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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