3M (NYSE:MMM) is Nippon Life Global Investors Americas Inc.'s 10th Largest Position

Nippon Life Global Investors Americas Inc. grew its position in shares of 3M (NYSE:MMM - Free Report) by 71.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 422,230 shares of the conglomerate's stock after acquiring an additional 175,770 shares during the quarter. 3M comprises about 2.5% of Nippon Life Global Investors Americas Inc.'s investment portfolio, making the stock its 10th largest holding. Nippon Life Global Investors Americas Inc. owned about 0.08% of 3M worth $54,506,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Tudor Financial Inc. acquired a new stake in 3M in the 3rd quarter valued at about $259,000. World Investment Advisors LLC raised its position in 3M by 22.4% during the third quarter. World Investment Advisors LLC now owns 11,768 shares of the conglomerate's stock valued at $1,609,000 after buying an additional 2,155 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in 3M by 255.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 78,978 shares of the conglomerate's stock worth $10,796,000 after acquiring an additional 56,734 shares in the last quarter. Tidal Investments LLC boosted its position in 3M by 44.7% during the 3rd quarter. Tidal Investments LLC now owns 72,733 shares of the conglomerate's stock worth $9,943,000 after acquiring an additional 22,461 shares during the period. Finally, Peapack Gladstone Financial Corp increased its holdings in shares of 3M by 0.7% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 116,993 shares of the conglomerate's stock valued at $15,993,000 after purchasing an additional 830 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Stock Down 1.1 %

NYSE MMM traded down $1.58 on Friday, reaching $137.30. The company had a trading volume of 2,141,243 shares, compared to its average volume of 4,172,343. The company's fifty day moving average is $143.38 and its 200-day moving average is $138.19. 3M has a 1-year low of $90.65 and a 1-year high of $156.35. The firm has a market capitalization of $74.05 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 3.30 and a beta of 1.01. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. On average, research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 14th were given a $0.73 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.92 dividend on an annualized basis and a dividend yield of 2.13%. This is a boost from 3M's previous quarterly dividend of $0.70. 3M's dividend payout ratio (DPR) is presently 38.68%.

Insider Buying and Selling

In related news, EVP Kevin H. Rhodes sold 6,743 shares of the business's stock in a transaction on Monday, January 27th. The stock was sold at an average price of $149.85, for a total transaction of $1,010,438.55. Following the sale, the executive vice president now owns 4,902 shares in the company, valued at $734,564.70. The trade was a 57.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Michael F. Roman sold 49,598 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $152.30, for a total transaction of $7,553,775.40. Following the sale, the chairman now directly owns 180,895 shares in the company, valued at $27,550,308.50. The trade was a 21.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,736 shares of company stock valued at $9,081,260 over the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MMM. Bank of America upped their price objective on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price objective on 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company raised 3M from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $140.00 to $170.00 in a research report on Wednesday, January 22nd. Barclays boosted their price target on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and an average target price of $147.00.

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.