3M (NYSE:MMM) Stock Holdings Lowered by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC trimmed its holdings in shares of 3M (NYSE:MMM) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 165,320 shares of the conglomerate’s stock after selling 6,056 shares during the period. Nisa Investment Advisors LLC’s holdings in 3M were worth $21,341,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of 3M by 1.1% during the 3rd quarter. State Street Corp now owns 27,194,612 shares of the conglomerate’s stock valued at $3,717,503,000 after acquiring an additional 302,900 shares during the last quarter. FMR LLC lifted its holdings in shares of 3M by 88.7% during the third quarter. FMR LLC now owns 8,961,866 shares of the conglomerate’s stock valued at $1,225,087,000 after purchasing an additional 4,212,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of 3M by 1.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,815,625 shares of the conglomerate’s stock valued at $521,596,000 after purchasing an additional 43,942 shares during the period. AQR Capital Management LLC increased its stake in 3M by 18.6% in the 2nd quarter. AQR Capital Management LLC now owns 2,531,422 shares of the conglomerate’s stock worth $258,686,000 after purchasing an additional 396,773 shares in the last quarter. Finally, National Pension Service increased its stake in 3M by 14.5% in the 3rd quarter. National Pension Service now owns 1,268,003 shares of the conglomerate’s stock worth $173,336,000 after purchasing an additional 161,036 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MMM. Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a report on Saturday, January 18th. Melius raised shares of 3M from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Barclays boosted their target price on shares of 3M from $161.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho raised their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and lifted their price target for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.87.

3M Stock Performance

MMM stock opened at $149.14 on Thursday. The company has a market capitalization of $81.21 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 2.30 and a beta of 0.95. 3M has a 12 month low of $75.40 and a 12 month high of $152.08. The firm has a 50 day moving average of $131.73 and a two-hundred day moving average of $128.53. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5,770,390 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business’s quarterly revenue was down 25.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 earnings per share. As a group, equities analysts anticipate that 3M will post 7.28 EPS for the current fiscal year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 15th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Friday, November 15th. 3M’s payout ratio is 35.35%.

3M 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.