Nisa Investment Advisors LLC Sells 2,833 Shares of 3M Company (NYSE:MMM)

Nisa Investment Advisors LLC lessened its stake in 3M Company (NYSE:MMM - Free Report) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,487 shares of the conglomerate's stock after selling 2,833 shares during the period. Nisa Investment Advisors LLC's holdings in 3M were worth $23,863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of 3M by 26.6% in the 4th quarter. Brighton Jones LLC now owns 8,898 shares of the conglomerate's stock valued at $1,149,000 after purchasing an additional 1,872 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of 3M in the 4th quarter valued at $26,000. Assetmark Inc. boosted its stake in shares of 3M by 80.2% in the 4th quarter. Assetmark Inc. now owns 1,173 shares of the conglomerate's stock valued at $151,000 after purchasing an additional 522 shares in the last quarter. Independent Advisor Alliance boosted its position in 3M by 11.7% during the 4th quarter. Independent Advisor Alliance now owns 26,182 shares of the conglomerate's stock valued at $3,380,000 after buying an additional 2,751 shares during the period. Finally, Davis R M Inc. grew its holdings in 3M by 20.3% in the 4th quarter. Davis R M Inc. now owns 4,547 shares of the conglomerate's stock worth $587,000 after acquiring an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 65.25% of the company's stock.

Insiders Place Their Bets

In related news, EVP John Patrick Banovetz sold 7,759 shares of 3M stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the completion of the transaction, the executive vice president directly owned 31,372 shares of the company's stock, valued at approximately $4,654,663.64. The trade was a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of 3M stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the transaction, the executive vice president directly owned 6,127 shares of the company's stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

MMM has been the topic of a number of recent analyst reports. Barclays raised their price target on shares of 3M from $164.00 to $170.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup raised their price target on shares of 3M from $141.00 to $160.00 and gave the stock a "neutral" rating in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on shares of 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Royal Bank Of Canada raised their price target on shares of 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a report on Wednesday, April 23rd. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a report on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $156.33.

3M Stock Performance

Shares of NYSE MMM traded down $1.62 during trading on Friday, reaching $155.70. 1,218,507 shares of the company traded hands, compared to its average volume of 3,819,938. The firm has a 50 day simple moving average of $147.95 and a 200-day simple moving average of $144.32. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 2.72. The stock has a market capitalization of $83.80 billion, a PE ratio of 19.66, a P/E/G ratio of 3.05 and a beta of 1.02. 3M Company has a 52-week low of $100.87 and a 52-week high of $159.47.

3M (NYSE:MMM - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 17.79% and a return on equity of 96.19%. Equities research analysts anticipate that 3M Company will post 7.8 earnings per share for the current year.

3M Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Friday, May 23rd were issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 1.88%. 3M's dividend payout ratio is currently 36.87%.

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.