3M (NYSE:MMM) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lowered its holdings in 3M (NYSE:MMM - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 165,320 shares of the conglomerate's stock after selling 6,056 shares during the quarter. Nisa Investment Advisors LLC's holdings in 3M were worth $21,341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MMM. FSA Wealth Management LLC purchased a new stake in 3M during the third quarter worth $27,000. Daymark Wealth Partners LLC lifted its stake in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate's stock worth $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. boosted its position in 3M by 118.6% during the third quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. ORG Partners LLC grew its stake in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate's stock valued at $41,000 after purchasing an additional 98 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in 3M by 2,466.7% in the third quarter. True Wealth Design LLC now owns 308 shares of the conglomerate's stock worth $42,000 after purchasing an additional 296 shares in the last quarter. 65.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of 3M from $162.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday. Mizuho lifted their price target on shares of 3M from $105.00 to $146.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Barclays increased their price objective on 3M from $161.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday. Melius upgraded 3M from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $140.00 to $170.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, 3M presently has an average rating of "Moderate Buy" and a consensus price target of $148.87.

3M Stock Performance

MMM stock traded up $0.52 during trading on Thursday, hitting $149.64. 4,439,108 shares of the company traded hands, compared to its average volume of 4,787,515. 3M has a 1 year low of $75.40 and a 1 year high of $152.08. The company has a market cap of $81.49 billion, a PE ratio of 19.82, a P/E/G ratio of 2.42 and a beta of 0.95. The stock's 50-day simple moving average is $132.09 and its 200 day simple moving average is $128.67. 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 (NYSE:MMM - Get Free Report) last posted its earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5,770,390 billion. 3M had a net margin of 15.71% and a return on equity of 97.19%. The business's revenue was down 25.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 EPS. On average, equities analysts expect that 3M will post 7.66 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were paid a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 annualized dividend and a dividend yield of 1.87%. 3M's dividend payout ratio is presently 37.09%.

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.