Nisa Investment Advisors LLC Sells 6,600 Shares of 3M (NYSE:MMM)

Nisa Investment Advisors LLC lessened its stake in 3M (NYSE:MMM) by 3.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,376 shares of the conglomerate’s stock after selling 6,600 shares during the quarter. Nisa Investment Advisors LLC’s holdings in 3M were worth $23,427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. MFA Wealth Advisors LLC bought a new stake in shares of 3M during the 2nd quarter worth $28,000. Daymark Wealth Partners LLC boosted its holdings in shares of 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares in the last quarter. McClarren Financial Advisors Inc. grew its holdings in shares of 3M by 118.6% during the third 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. Meeder Asset Management Inc. boosted its position in 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 buying an additional 269 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in shares of 3M in the second quarter valued at about $33,000. Institutional investors own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, CFO Theresa E. Reinseth sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the completion of the sale, the chief financial officer now owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now owns 4,364 shares of the company’s stock, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Michael F. Roman sold 5,675 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday. Melius Research upgraded 3M from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Tuesday, October 22nd. Mizuho boosted their price objective on 3M from $105.00 to $146.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays raised their price objective on shares of 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price target on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $139.27.

3M Stock Performance

Shares of MMM opened at $129.27 on Wednesday. The stock has a 50 day moving average of $133.10 and a 200 day moving average of $114.71. The company has a market capitalization of $71.53 billion, a price-to-earnings ratio of -10.16, a PEG ratio of 2.42 and a beta of 0.95. 3M has a 12 month low of $73.15 and a 12 month high of $141.34. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.05. The firm had revenue of $6.29 billion during 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%. The business’s revenue was down 24.3% compared to the same quarter last year. During the same period last year, the firm posted $2.68 EPS. As a group, sell-side analysts forecast that 3M will post 7.26 earnings per share for the current year.

3M Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend was Monday, August 26th. 3M’s payout ratio is -22.01%.

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.