National Pension Service Buys 161,036 Shares of 3M (NYSE:MMM)

National Pension Service increased its holdings in 3M (NYSE:MMM - Free Report) by 14.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,268,003 shares of the conglomerate's stock after acquiring an additional 161,036 shares during the quarter. National Pension Service owned approximately 0.23% of 3M worth $173,336,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MMM. MFA Wealth Advisors LLC bought a new position in shares of 3M during the second quarter worth about $28,000. Daymark Wealth Partners LLC boosted 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 valued at $30,000 after buying an additional 17,211 shares during the period. McClarren Financial Advisors Inc. grew its position in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate's stock valued at $30,000 after buying an additional 121 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate's stock worth $31,000 after purchasing an additional 269 shares during the period. Finally, TruNorth Capital Management LLC bought a new stake in 3M in the second quarter valued at $33,000. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insider Activity

In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the company's stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares of the company's stock, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

3M Stock Performance

MMM stock traded up $0.68 during mid-day trading on Tuesday, reaching $126.53. 3,941,398 shares of the stock traded hands, compared to its average volume of 4,903,628. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41. The business has a 50-day moving average of $132.88 and a two-hundred day moving average of $115.73. The firm has a market capitalization of $68.90 billion, a PE ratio of 16.09, a P/E/G ratio of 2.05 and a beta of 0.95. 3M has a 52 week low of $75.40 and a 52 week high of $141.34.

3M (NYSE:MMM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.93 by $0.05. 3M had a net margin of 15.37% and a return on equity of 104.66%. The business had revenue of $6.29 billion during the quarter, compared to analysts' expectations of $6.06 billion. During the same quarter last year, the company posted $2.68 EPS. The firm's revenue for the quarter was down 24.3% on a year-over-year basis. As a group, equities analysts predict that 3M will post 7.28 EPS for the current fiscal year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.21%. 3M's payout ratio is 35.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup increased their price objective on 3M from $100.00 to $133.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Royal Bank of Canada raised their target price on shares of 3M from $99.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, October 23rd. Melius raised 3M from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Barclays upped their price target on shares of 3M from $160.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of 3M from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $139.27.

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.