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

Vise Technologies Inc. raised its position in 3M (NYSE:MMM - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent disclosure 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 quarter. Vise Technologies Inc.'s holdings in 3M were worth $1,637,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in shares of 3M in the fourth quarter valued at about $25,000. Hazlett Burt & Watson Inc. bought a new position in shares of 3M in the fourth quarter valued at about $27,000. Meeder Asset Management Inc. raised its position in shares of 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock valued at $40,000 after purchasing an additional 214 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock valued at $47,000 after purchasing an additional 163 shares during the period. Finally, Greenline Partners LLC bought a new position in shares of 3M in the fourth quarter valued at about $50,000. Institutional investors and hedge funds own 65.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on MMM shares. Barclays raised their price target on shares of 3M from $160.00 to $164.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 23rd. Citigroup lowered their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of 3M in a research report on Saturday. Bank of America raised their price target on shares of 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, 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 research report on Friday, May 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, 3M presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.08.

3M Price Performance

NYSE MMM traded up $1.84 on Tuesday, reaching $149.46. 2,556,199 shares of the company's stock traded hands, compared to its average volume of 3,978,638. 3M has a 12 month low of $96.76 and a 12 month high of $156.35. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08. The stock has a 50-day simple moving average of $141.58 and a 200 day simple moving average of $140.33. The stock has a market cap of $80.44 billion, a PE ratio of 19.80, a P/E/G ratio of 3.30 and a beta of 1.02.

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 analysts' consensus estimates of $1.77 by $0.11. 3M had a net margin of 15.71% and a return on equity of 100.77%. The business had revenue of $5.80 billion for the quarter, compared to analysts' expectations of $5.78 billion. As a group, research analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be issued a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.95%. 3M's dividend payout ratio is 36.87%.

Insider Activity at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. The trade was a 56.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John Patrick Banovetz sold 7,759 shares of the business's stock in a transaction on 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 sale, the executive vice president now owns 31,372 shares in the company, 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 company insiders.

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.