Vise Technologies Inc. Acquires 2,043 Shares of 3M (NYSE:MMM)

Vise Technologies Inc. lifted its position in 3M (NYSE:MMM - Free Report) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,681 shares of the conglomerate's stock after acquiring an additional 2,043 shares during the period. Vise Technologies Inc.'s holdings in 3M were worth $1,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in 3M in the fourth quarter valued at $851,000. Ensign Peak Advisors Inc increased its holdings in 3M by 29.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 642,354 shares of the conglomerate's stock worth $82,921,000 after purchasing an additional 145,146 shares during the period. Braun Stacey Associates Inc. boosted its position in shares of 3M by 18.4% during the 4th quarter. Braun Stacey Associates Inc. now owns 142,596 shares of the conglomerate's stock worth $18,408,000 after acquiring an additional 22,203 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of 3M by 1,615.9% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 122,240 shares of the conglomerate's stock worth $15,780,000 after acquiring an additional 115,116 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. boosted its position in shares of 3M by 34.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 12,516 shares of the conglomerate's stock valued at $1,616,000 after purchasing an additional 3,173 shares during the period. Institutional investors and hedge funds own 65.25% of the company's stock.

3M Trading Up 0.4%

MMM stock traded up $0.56 during midday trading on Thursday, reaching $149.22. The company's stock had a trading volume of 947,103 shares, compared to its average volume of 3,958,451. The business's 50-day simple moving average is $141.51 and its 200-day simple moving average is $140.45. The stock has a market cap of $80.31 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. 3M has a 52 week low of $96.76 and a 52 week high of $156.35. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86.

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%. As a group, sell-side analysts expect that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 1.96%. 3M's payout ratio is 36.87%.

Insider Buying and Selling

In other news, EVP Zoe L. Dickson sold 7,915 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total transaction of $1,179,493.30. Following the completion of the sale, the executive vice president now owns 6,127 shares of the company's stock, valued at approximately $913,045.54. This represents a 56.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Patrick Banovetz sold 7,759 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $148.37, for a total transaction of $1,151,202.83. Following the sale, the executive vice president now directly owns 31,372 shares of the company's stock, valued at approximately $4,654,663.64. This trade represents a 19.83% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on MMM shares. Barclays upped their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price objective on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 24th. Bank of America increased their target price on 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Finally, Citigroup decreased their price objective on 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $152.08.

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.