3M (NYSE:MMM) Holdings Raised by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its stake in shares of 3M (NYSE:MMM) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,952,878 shares of the conglomerate’s stock after purchasing an additional 97,340 shares during the quarter. 3M makes up 1.1% of Pacer Advisors Inc.’s investment portfolio, making the stock its 7th biggest holding. Pacer Advisors Inc. owned approximately 0.90% of 3M worth $506,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Tributary Capital Management LLC purchased a new stake in 3M during the 1st quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. boosted its position in shares of 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 197 shares in the last quarter. MFA Wealth Advisors LLC acquired a new position in shares of 3M during the 2nd quarter worth about $28,000. Northwest Investment Counselors LLC acquired a new position in shares of 3M during the 1st quarter worth about $32,000. Finally, Meeder Asset Management Inc. boosted its position in shares of 3M by 689.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Insider Transactions at 3M

In other news, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Theresa E. Reinseth sold 2,100 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares of the company’s stock, valued at approximately $541,659.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at $21,486,484.56. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MMM. Royal Bank of Canada upped their price objective on 3M from $93.00 to $95.00 and gave the stock an “underperform” rating in a research report on Monday, July 29th. Bank of America upped their price objective on 3M from $120.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price objective on 3M from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Citigroup upped their target price on 3M from $100.00 to $133.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $124.43.

3M Stock Up 0.7 %

3M stock opened at $134.76 on Friday. 3M has a twelve month low of $71.12 and a twelve month high of $135.32. The stock has a 50 day moving average of $124.63 and a two-hundred day moving average of $107.80. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $74.57 billion, a price-to-earnings ratio of -10.59, a PEG ratio of 2.41 and a beta of 0.95.

3M (NYSE:MMM) last posted its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.85 billion. 3M had a return on equity of 112.92% and a net margin of 3.08%. During the same period last year, the firm earned $2.17 EPS. As a group, research analysts expect that 3M will post 7.22 earnings per share for the current year.

3M Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Monday, August 26th were paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s dividend payout ratio (DPR) is -22.01%.

About 3M

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.