Public Employees Retirement System of Ohio Has $31.33 Million Stock Position in 3M (NYSE:MMM)

Public Employees Retirement System of Ohio lowered its position in 3M (NYSE:MMM - Free Report) by 1.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 242,658 shares of the conglomerate's stock after selling 4,565 shares during the quarter. Public Employees Retirement System of Ohio's holdings in 3M were worth $31,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Simon Quick Advisors LLC grew its position in 3M by 47.2% in the 4th quarter. Simon Quick Advisors LLC now owns 3,316 shares of the conglomerate's stock valued at $428,000 after buying an additional 1,063 shares in the last quarter. Advisory Alpha LLC bought a new position in 3M in the 4th quarter valued at about $215,000. Daymark Wealth Partners LLC grew its position in 3M by 9.0% in the 4th quarter. Daymark Wealth Partners LLC now owns 237,297 shares of the conglomerate's stock valued at $31,000 after buying an additional 19,552 shares in the last quarter. Secure Asset Management LLC bought a new position in 3M in the 4th quarter valued at about $212,000. Finally, Apeiron RIA LLC grew its position in 3M by 9.9% in the 4th quarter. Apeiron RIA LLC now owns 1,717 shares of the conglomerate's stock valued at $222,000 after buying an additional 154 shares in the last quarter. 65.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MMM. Bank of America increased their target price on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada upped their price objective on shares of 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on shares of 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research report on Saturday. Finally, JPMorgan Chase & Co. increased 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 analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $152.08.

3M Stock Down 0.5%

NYSE:MMM traded down $0.78 during mid-day trading on Wednesday, reaching $148.71. The stock had a trading volume of 2,295,786 shares, compared to its average volume of 3,971,934. The business's 50 day moving average is $141.54 and its 200 day moving average is $140.39. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. The stock has a market cap of $80.03 billion, a P/E ratio of 19.70, a PEG ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.41 and a quick ratio of 1.08.

3M (NYSE:MMM - Get Free Report) last announced 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. 3M had a return on equity of 100.77% and a net margin of 15.71%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. As a group, sell-side analysts predict that 3M will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders 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 yield of 1.96%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Insider Buying and Selling at 3M

In other 3M news, EVP John Patrick Banovetz sold 7,759 shares of the 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 transaction, the executive vice president now owns 31,372 shares in the company, valued at $4,654,663.64. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Zoe L. Dickson sold 7,915 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $149.02, for a total value of $1,179,493.30. Following the transaction, the executive vice president now owns 6,127 shares in the company, valued at approximately $913,045.54. This trade represents a 56.37% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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.