Nisa Investment Advisors LLC Buys 11,528 Shares of 3M (NYSE:MMM)

Nisa Investment Advisors LLC boosted its position in shares of 3M (NYSE:MMM - Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,719 shares of the conglomerate's stock after acquiring an additional 11,528 shares during the period. Nisa Investment Advisors LLC's holdings in 3M were worth $20,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in 3M by 0.7% during the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate's stock valued at $4,590,533,000 after acquiring an additional 317,483 shares during the period. Geode Capital Management LLC increased its stake in 3M by 5.7% during the first quarter. Geode Capital Management LLC now owns 11,474,791 shares of the conglomerate's stock valued at $1,203,635,000 after acquiring an additional 619,370 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 3M by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate's stock valued at $1,684,639,000 after acquiring an additional 758,126 shares during the period. Morgan Stanley grew its stake in shares of 3M by 8.3% in the 4th quarter. Morgan Stanley now owns 10,769,973 shares of the conglomerate's stock valued at $1,291,535,000 after purchasing an additional 825,223 shares during the period. Finally, Northern Trust Corp grew its stake in shares of 3M by 0.6% in the 1st quarter. Northern Trust Corp now owns 7,413,149 shares of the conglomerate's stock valued at $1,103,670,000 after purchasing an additional 44,714 shares during the period. 65.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company's stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the transaction, the insider now owns 3,966 shares in the company, valued at $366,141.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.38% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MMM shares. Citigroup upped their price objective on 3M from $95.31 to $98.00 and gave the company a "neutral" rating in a research note on Monday. Wells Fargo & Company reduced their target price on 3M from $112.00 to $105.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 24th. Barclays reduced their target price on 3M from $126.00 to $107.00 and set an "overweight" rating on the stock in a report on Tuesday, April 2nd. Bank of America reduced their target price on 3M from $110.00 to $100.00 and set a "neutral" rating on the stock in a report on Tuesday, April 2nd. Finally, Royal Bank of Canada dropped their price target on shares of 3M from $84.00 to $78.00 and set an "underperform" rating for the company in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $103.50.

3M Trading Up 1.0 %

NYSE MMM traded up $0.91 during trading on Monday, reaching $91.94. 3,706,363 shares of the stock traded hands, compared to its average volume of 6,192,586. The firm has a market cap of $50.88 billion, a price-to-earnings ratio of -7.28, a price-to-earnings-growth ratio of 1.58 and a beta of 1.02. The stock's 50-day moving average price is $96.17 and its 200 day moving average price is $97.40. The company has a quick ratio of 0.76, a current ratio of 1.07 and a debt-to-equity ratio of 2.69. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $95.67.

3M (NYSE:MMM - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $2.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.11. The firm had revenue of $8.01 billion during the quarter, compared to analysts' expectations of $7.69 billion. 3M had a negative net margin of 21.40% and a positive return on equity of 62.45%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 earnings per share. Analysts predict that 3M will post 8.97 EPS for the current year.

3M Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Thursday, February 15th. This is a boost from 3M's previous quarterly dividend of $1.50. 3M's dividend payout ratio is -47.82%.

3M Profile

3M Company provides diversified technology services in the United States and internationally. The company operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.