Vident Advisory LLC Has $5.56 Million Holdings in 3M (NYSE:MMM)

Vident Advisory LLC lessened its stake in 3M (NYSE:MMM - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,066 shares of the conglomerate's stock after selling 2,097 shares during the quarter. Vident Advisory LLC's holdings in 3M were worth $5,560,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of 3M by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 11,574,414 shares of the conglomerate's stock valued at $1,493,655,000 after acquiring an additional 280,048 shares in the last quarter. Northern Trust Corp grew its stake in 3M by 12.6% during the 4th quarter. Northern Trust Corp now owns 6,752,944 shares of the conglomerate's stock worth $871,738,000 after buying an additional 755,155 shares during the last quarter. Capital World Investors grew its stake in 3M by 25.4% during the 4th quarter. Capital World Investors now owns 6,153,924 shares of the conglomerate's stock worth $794,410,000 after buying an additional 1,248,093 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 3M by 9.2% during the 4th quarter. Bank of New York Mellon Corp now owns 5,689,486 shares of the conglomerate's stock worth $734,456,000 after buying an additional 479,621 shares during the last quarter. Finally, Norges Bank bought a new position in 3M during the 4th quarter worth $636,767,000. Institutional investors own 65.25% of the company's stock.

Insider Transactions at 3M

In other news, EVP Zoe L. Dickson sold 7,915 shares of the firm's 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 completion of the sale, the executive vice president now directly owns 6,127 shares of the company's stock, valued at $913,045.54. This trade represents a 56.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company's stock.

3M Trading Down 1.3%

Shares of NYSE:MMM traded down $2.00 during midday trading on Friday, reaching $147.78. The company had a trading volume of 2,369,804 shares, compared to its average volume of 3,981,946. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. 3M has a 1-year low of $96.76 and a 1-year high of $156.35. The firm has a market cap of $79.53 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a fifty day simple moving average of $141.69 and a two-hundred day simple moving average of $140.18.

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

3M Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a dividend yield of 1.98%. 3M's dividend payout ratio (DPR) is presently 36.87%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on 3M from $140.00 to $167.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Royal Bank of Canada increased their price target on 3M from $98.00 to $100.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 23rd. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Weiss Ratings reissued a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. Finally, Citigroup decreased their target price on 3M from $152.00 to $142.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $152.08.

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.