Nisa Investment Advisors LLC Sells 6,056 Shares of 3M (NYSE:MMM)

Nisa Investment Advisors LLC reduced its holdings in 3M (NYSE:MMM) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,320 shares of the conglomerate’s stock after selling 6,056 shares during the period. Nisa Investment Advisors LLC’s holdings in 3M were worth $21,341,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in shares of 3M in the third quarter worth $27,000. McClarren Financial Advisors Inc. grew its position in 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of 3M by 2,466.7% during the 3rd quarter. True Wealth Design LLC now owns 308 shares of the conglomerate’s stock worth $42,000 after purchasing an additional 296 shares during the period. ORG Partners LLC raised its position in shares of 3M by 44.1% during the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock valued at $41,000 after buying an additional 98 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of 3M in the third quarter valued at about $57,000. 65.25% of the stock is owned by institutional investors.

3M Trading Up 1.5 %

MMM opened at $149.14 on Thursday. 3M has a 1-year low of $75.40 and a 1-year high of $152.08. The stock has a market capitalization of $81.21 billion, a PE ratio of 18.83, a PEG ratio of 2.30 and a beta of 0.95. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The firm has a 50-day moving average price of $131.73 and a two-hundred day moving average price of $128.53.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 21st. The conglomerate reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.02. The business had revenue of $6.01 billion during the quarter, compared to analyst estimates of $5,770,390 billion. 3M had a net margin of 15.37% and a return on equity of 104.66%. 3M’s revenue for the quarter was down 25.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.42 earnings per share. As a group, equities analysts anticipate that 3M will post 7.28 earnings per share for the current fiscal year.

3M Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 15th were given a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a yield of 1.88%. 3M’s payout ratio is 35.35%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Melius raised 3M from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and upped their target price for the company from $130.00 to $184.00 in a research note on Wednesday, November 13th. 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. Citigroup increased their price objective on shares of 3M from $142.00 to $152.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of 3M in a research report on Saturday, January 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.87.

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.