NorthRock Partners LLC Has $1.96 Million Stock Position in 3M (NYSE:MMM)

NorthRock Partners LLC boosted its stake in 3M (NYSE:MMM - Free Report) by 162.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,155 shares of the conglomerate's stock after acquiring an additional 9,379 shares during the period. NorthRock Partners LLC's holdings in 3M were worth $1,956,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of MMM. Nuveen Asset Management LLC lifted its holdings in shares of 3M by 2.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,624,177 shares of the conglomerate's stock worth $209,665,000 after acquiring an additional 31,624 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in 3M in the fourth quarter worth $1,810,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 3M by 7.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,300 shares of the conglomerate's stock valued at $9,591,000 after buying an additional 4,964 shares during the period. Lazard Asset Management LLC grew its stake in shares of 3M by 46.8% during the fourth quarter. Lazard Asset Management LLC now owns 313,892 shares of the conglomerate's stock valued at $40,519,000 after buying an additional 100,140 shares during the last quarter. Finally, Lighthouse Investment Partners LLC increased its holdings in shares of 3M by 141.7% in the fourth quarter. Lighthouse Investment Partners LLC now owns 58,000 shares of the conglomerate's stock worth $7,487,000 after buying an additional 34,000 shares during the period. 65.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on MMM. JPMorgan Chase & Co. boosted their target price on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a research note on Friday. Wells Fargo & Company upgraded shares of 3M from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Citigroup dropped their target price on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Weiss Ratings restated a "hold (c+)" rating on shares of 3M in a research note on Saturday, May 10th. Finally, Bank of America lifted their price target on shares of 3M from $175.00 to $179.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Two equities research 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 currently has an average rating of "Moderate Buy" and an average price target of $152.08.

3M Stock Down 0.3%

Shares of NYSE MMM traded down $0.51 on Tuesday, hitting $153.63. The company had a trading volume of 731,234 shares, compared to its average volume of 3,986,833. The firm has a market capitalization of $82.68 billion, a P/E ratio of 20.36, a PEG ratio of 3.30 and a beta of 1.02. 3M has a 12-month low of $96.76 and a 12-month high of $156.35. The business has a 50 day moving average of $141.68 and a two-hundred day moving average of $139.66. 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 released its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.11. The company had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a net margin of 15.71% and a return on equity of 100.77%. As a group, equities research analysts forecast that 3M will post 7.8 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.90%. 3M's dividend payout ratio is presently 36.87%.

Insider Transactions at 3M

In other 3M news, EVP Zoe L. Dickson sold 7,915 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company's stock.

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.