Ceera Investments LLC Sells 180 Shares of 3M (NYSE:MMM)

Ceera Investments LLC decreased its holdings in 3M (NYSE:MMM) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,122 shares of the conglomerate’s stock after selling 180 shares during the quarter. Ceera Investments LLC’s holdings in 3M were worth $1,384,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of MMM. McClarren Financial Advisors Inc. increased its stake in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after buying an additional 121 shares during the period. MFA Wealth Advisors LLC acquired a new stake in shares of 3M in the 2nd quarter valued at $28,000. Meeder Asset Management Inc. increased its stake in shares of 3M by 689.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of 3M in the 2nd quarter valued at $33,000. Finally, Gradient Investments LLC increased its stake in shares of 3M by 44.7% in the 2nd quarter. Gradient Investments LLC now owns 356 shares of the conglomerate’s stock valued at $36,000 after buying an additional 110 shares during the period. Institutional investors own 65.25% of the company’s stock.

3M Stock Performance

MMM opened at $129.79 on Friday. 3M has a 52-week low of $75.40 and a 52-week high of $141.34. The firm has a market capitalization of $70.68 billion, a PE ratio of 16.39, a PEG ratio of 2.15 and a beta of 0.95. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.08 and a current ratio of 1.43. The business’s 50-day simple moving average is $132.80 and its 200 day simple moving average is $118.01.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.05. The business had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. 3M’s revenue was down 24.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.68 earnings per share. As a group, sell-side analysts expect that 3M will post 7.27 earnings per share for the current fiscal year.

3M Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Friday, November 15th. 3M’s payout ratio is 35.35%.

Analysts Set New Price Targets

MMM has been the subject of several research reports. Royal Bank of Canada lifted their target price on 3M from $99.00 to $100.00 and gave the company an “underperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on 3M in a research note on Friday, September 6th. They issued an “underweight” rating and a $125.00 target price for the company. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company lifted their price objective on 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Mizuho lifted their price objective on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, 3M presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.87.

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.