OMERS ADMINISTRATION Corp Has $4.22 Million Stock Holdings in 3M (NYSE:MMM)

OMERS ADMINISTRATION Corp trimmed its holdings in shares of 3M (NYSE:MMM - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,663 shares of the conglomerate's stock after selling 2,547 shares during the period. OMERS ADMINISTRATION Corp's holdings in 3M were worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in 3M in the 4th quarter valued at about $25,000. Hazlett Burt & Watson Inc. acquired a new stake in 3M during the fourth quarter worth about $27,000. Meeder Asset Management Inc. raised its stake in 3M by 230.1% during the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate's stock worth $40,000 after acquiring an additional 214 shares during the period. Catalyst Capital Advisors LLC raised its stake in 3M by 81.5% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate's stock worth $47,000 after acquiring an additional 163 shares during the period. Finally, Greenline Partners LLC acquired a new stake in shares of 3M in the fourth quarter valued at approximately $50,000. 65.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MMM has been the topic of several analyst reports. Citigroup dropped their price target on shares of 3M from $152.00 to $142.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Barclays increased their price objective on 3M from $160.00 to $164.00 and gave the company an "overweight" rating in a research report on Wednesday, April 23rd. Royal Bank of Canada increased their price objective on 3M from $98.00 to $100.00 and gave the company an "underperform" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their target price on 3M from $140.00 to $167.00 and gave the company an "overweight" rating in a report on Friday. Finally, Wells Fargo & Company upgraded 3M from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $140.00 to $170.00 in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $152.08.

3M Stock Performance

Shares of NYSE:MMM traded up $4.37 during midday trading on Friday, hitting $153.11. The company's stock had a trading volume of 3,556,311 shares, compared to its average volume of 4,010,736. The stock has a market capitalization of $82.40 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 3.30 and a beta of 1.02. The stock's 50 day simple moving average is $141.60 and its 200 day simple moving average is $139.32. 3M has a fifty-two week low of $96.76 and a fifty-two week high of $156.35. 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 (NYSE:MMM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.11. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. As a group, research analysts anticipate that 3M will post 7.8 earnings per share for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Friday, May 23rd will be given a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 1.91%. 3M's dividend payout ratio is currently 36.87%.

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.