Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $14.95 Million Stock Holdings in 3M (NYSE:MMM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its stake in 3M (NYSE:MMM - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,790 shares of the conglomerate's stock after selling 3,799 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in 3M were worth $14,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. Thrivent Financial for Lutherans grew its position in 3M by 5.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 64,013 shares of the conglomerate's stock worth $8,751,000 after purchasing an additional 3,404 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of 3M by 1.4% during the third quarter. Pathstone Holdings LLC now owns 74,143 shares of the conglomerate's stock worth $10,135,000 after buying an additional 1,054 shares during the period. Prospera Financial Services Inc grew its holdings in 3M by 11.0% in the 3rd quarter. Prospera Financial Services Inc now owns 11,882 shares of the conglomerate's stock worth $1,625,000 after buying an additional 1,182 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in 3M in the 3rd quarter valued at approximately $3,138,000. Finally, Prospera Private Wealth LLC bought a new stake in 3M during the 3rd quarter valued at $276,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Royal Bank of Canada reissued an "underperform" rating and issued a $96.00 price target on shares of 3M in a research note on Thursday, February 27th. Citigroup raised their target price on shares of 3M from $142.00 to $152.00 and gave the company a "neutral" rating in a research note on Wednesday, January 22nd. Barclays upped their price target on shares of 3M from $161.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of 3M in a research note on Saturday. Finally, Bank of America boosted their target price on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.13.

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3M Price Performance

Shares of NYSE MMM traded up $0.38 during mid-day trading on Tuesday, reaching $153.53. The company had a trading volume of 4,117,823 shares, compared to its average volume of 4,027,325. 3M has a 1-year low of $85.62 and a 1-year high of $156.35. The stock has a market cap of $83.35 billion, a PE ratio of 20.34, a P/E/G ratio of 3.30 and a beta of 0.97. The company has a current ratio of 1.41, a quick ratio of 1.08 and a debt-to-equity ratio of 2.86. The company has a 50-day moving average price of $148.72 and a two-hundred day moving average price of $137.71.

3M (NYSE:MMM - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.02. 3M had a return on equity of 100.77% and a net margin of 15.71%. The firm had revenue of $6.01 billion for the quarter, compared to the consensus estimate of $5.77 billion. During the same quarter in the previous year, the company earned $2.42 EPS. The business's revenue for the quarter was down 25.0% compared to the same quarter last year. On average, equities analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were paid a $0.73 dividend. This is a positive change from 3M's previous quarterly dividend of $0.70. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a yield of 1.90%. 3M's dividend payout ratio (DPR) is currently 38.68%.

Insider Buying and Selling at 3M

In other news, CAO Theresa E. Reinseth sold 2,309 shares of 3M stock in a transaction on Friday, January 24th. The stock was sold at an average price of $149.95, for a total transaction of $346,234.55. Following the transaction, the chief accounting officer now owns 4,417 shares in the company, valued at approximately $662,329.15. The trade was a 34.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Michael F. Roman sold 45,276 shares of the stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $150.01, for a total value of $6,791,852.76. Following the completion of the sale, the chairman now directly owns 175,718 shares of the company's stock, valued at approximately $26,359,457.18. This represents a 20.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,639 shares of company stock valued at $17,163,446 in the last three months. 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.