Mercer Global Advisors Inc. ADV Buys 8,873 Shares of 3M (NYSE:MMM)

Mercer Global Advisors Inc. ADV lifted its stake in 3M (NYSE:MMM - Free Report) by 17.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,871 shares of the conglomerate's stock after buying an additional 8,873 shares during the period. Mercer Global Advisors Inc. ADV's holdings in 3M were worth $7,858,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MMM. Investors Asset Management of Georgia Inc. GA ADV grew its holdings in shares of 3M by 1.3% in the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 5,377 shares of the conglomerate's stock worth $694,000 after purchasing an additional 67 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in 3M by 1.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,153 shares of the conglomerate's stock worth $665,000 after buying an additional 70 shares during the last quarter. LaSalle St. Investment Advisors LLC increased its holdings in shares of 3M by 2.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,951 shares of the conglomerate's stock worth $381,000 after buying an additional 71 shares in the last quarter. Gilbert & Cook Inc. raised its stake in shares of 3M by 1.5% in the fourth quarter. Gilbert & Cook Inc. now owns 5,106 shares of the conglomerate's stock valued at $659,000 after acquiring an additional 73 shares during the last quarter. Finally, Childress Capital Advisors LLC grew its position in 3M by 5.1% during the 4th quarter. Childress Capital Advisors LLC now owns 1,573 shares of the conglomerate's stock worth $203,000 after acquiring an additional 76 shares during the last quarter. Institutional investors own 65.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $140.00 to $170.00 in a report on Wednesday, January 22nd. JPMorgan Chase & Co. lowered their price objective on shares of 3M from $165.00 to $140.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Bank of America increased their price target 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. Citigroup dropped their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Thursday, April 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

3M Stock Up 0.7 %

Shares of MMM stock traded up $0.94 during trading hours on Friday, hitting $142.06. 1,053,754 shares of the company were exchanged, compared to its average volume of 4,016,548. 3M has a 52 week low of $95.90 and a 52 week high of $156.35. 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 business has a 50 day moving average of $141.38 and a two-hundred day moving average of $138.47. The company has a market capitalization of $76.45 billion, a PE ratio of 18.82, a PEG ratio of 3.30 and a beta of 1.02.

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

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.