Mizuho Securities USA LLC Sells 7,041 Shares of 3M (NYSE:MMM)

Mizuho Securities USA LLC decreased its position in 3M (NYSE:MMM - Free Report) by 16.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,623 shares of the conglomerate's stock after selling 7,041 shares during the period. Mizuho Securities USA LLC's holdings in 3M were worth $4,870,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MMM. MFA Wealth Advisors LLC purchased a new stake in 3M during the second quarter worth about $28,000. Daymark Wealth Partners LLC raised its holdings in shares of 3M by 8.6% in 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 period. McClarren Financial Advisors Inc. lifted its stake in 3M by 118.6% in 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 during the last quarter. Meeder Asset Management Inc. grew its holdings in 3M by 689.7% during the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC purchased a new stake in 3M in the second quarter worth $33,000. Institutional investors own 65.25% of the company's stock.

3M Trading Up 0.9 %

Shares of MMM stock traded up $1.11 on Friday, hitting $128.43. 3,052,378 shares of the company's stock traded hands, compared to its average volume of 4,791,241. The stock has a market capitalization of $69.94 billion, a price-to-earnings ratio of 16.22, a P/E/G ratio of 2.12 and a beta of 0.95. The company's fifty day simple moving average is $132.56 and its 200 day simple moving average is $118.95. 3M has a one year low of $75.40 and a one year high of $141.34. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43.

3M (NYSE:MMM - Get Free Report) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share for the quarter, beating analysts' consensus estimates of $1.93 by $0.05. The company had revenue of $6.29 billion during the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M's revenue for the quarter was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.68 EPS. Equities analysts forecast that 3M will post 7.27 EPS for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, November 15th. 3M's dividend payout ratio (DPR) is 35.35%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MMM. StockNews.com downgraded 3M from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Melius upgraded shares of 3M from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Melius Research raised shares of 3M from a "hold" rating to a "buy" rating and set a $180.00 price target on the stock in a research report on Tuesday, October 22nd. Barclays raised their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, UBS Group raised shares of 3M from a "neutral" rating to a "buy" rating and boosted their target price for the company from $130.00 to $184.00 in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.87.

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.