Addison Advisors LLC Has $252,000 Holdings in 3M (NYSE:MMM)

Addison Advisors LLC increased its position in shares of 3M (NYSE:MMM) by 46.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,307 shares of the conglomerate’s stock after acquiring an additional 728 shares during the quarter. Addison Advisors LLC’s holdings in 3M were worth $252,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of 3M by 0.7% during the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock valued at $4,590,533,000 after acquiring an additional 317,483 shares during the period. Invesco Ltd. increased its stake in 3M by 2.4% in the 3rd quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock valued at $382,246,000 after buying an additional 94,864 shares during the period. Nuance Investments LLC increased its stake in 3M by 10.1% in the 3rd quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock valued at $380,337,000 after buying an additional 371,935 shares during the period. Pacer Advisors Inc. increased its stake in 3M by 1,273.9% in the 4th quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after buying an additional 3,508,334 shares during the period. Finally, Van ECK Associates Corp increased its stake in 3M by 20.8% in the 3rd quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock valued at $275,630,000 after buying an additional 506,654 shares during the period. Institutional investors and hedge funds own 65.25% of the company’s stock.

3M Stock Performance

NYSE:MMM traded up $0.42 during midday trading on Friday, reaching $91.83. The stock had a trading volume of 4,520,901 shares, compared to its average volume of 4,283,067. 3M has a 1-year low of $71.12 and a 1-year high of $95.67. The firm’s fifty day simple moving average is $95.71 and its 200-day simple moving average is $97.37. The company has a debt-to-equity ratio of 2.69, a current ratio of 1.07 and a quick ratio of 0.76. The stock has a market capitalization of $50.82 billion, a P/E ratio of -7.27, a PEG ratio of 1.73 and a beta of 1.02.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (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 analyst estimates of $7.69 billion. During the same period last year, the business posted $2.28 EPS. 3M’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that 3M will post 8.19 EPS for the current fiscal year.

3M Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 16th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.58%. 3M’s dividend payout ratio (DPR) is presently -47.82%.

Wall Street Analysts Forecast Growth

MMM has been the topic of several research reports. Mizuho reiterated a “neutral” rating and issued a $105.00 price objective on shares of 3M in a research note on Wednesday, March 27th. StockNews.com upgraded shares of 3M from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Bank of America dropped their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Royal Bank of Canada dropped their price objective on shares of 3M from $84.00 to $78.00 and set an “underperform” rating on the stock in a research note on Tuesday, April 2nd. Finally, Wells Fargo & Company cut their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, 3M currently has an average rating of “Hold” and an average target price of $104.00.

Insider Activity at 3M

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

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.