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

Mercer Global Advisors Inc. ADV boosted its position in shares of 3M (NYSE:MMM - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 60,871 shares of the conglomerate's stock after purchasing an additional 8,873 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in 3M were worth $7,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in 3M during the fourth quarter worth $25,000. Proficio Capital Partners LLC acquired a new position in shares of 3M in the fourth quarter valued at about $26,000. Hazlett Burt & Watson Inc. purchased a new position in 3M during the 4th quarter worth approximately $27,000. Daymark Wealth Partners LLC lifted its position in 3M by 9.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after purchasing an additional 19,552 shares during the period. Finally, Meeder Asset Management Inc. raised its position in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after acquiring an additional 214 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

3M Price Performance

MMM traded up $0.65 during midday trading on Wednesday, hitting $138.67. The company had a trading volume of 2,555,430 shares, compared to its average volume of 4,032,045. The company has a market capitalization of $74.63 billion, a PE ratio of 18.37, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a twelve month low of $95.01 and a twelve month high of $156.35. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm's 50-day simple moving average is $141.95 and its 200-day simple moving average is $138.42.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Bank of America boosted their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Citigroup cut their price target on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada lifted their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Finally, Barclays raised their price objective on 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a report on Wednesday, April 23rd. Two equities research 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.00.

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.