Nisa Investment Advisors LLC Grows Position in 3M Co (NYSE:MMM)

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Nisa Investment Advisors LLC grew its position in 3M Co (NYSE:MMM) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 248,033 shares of the conglomerate’s stock after purchasing an additional 10,644 shares during the period. Nisa Investment Advisors LLC’s holdings in 3M were worth $52,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cue Financial Group Inc. lifted its position in shares of 3M by 8.3% in the 3rd quarter. Cue Financial Group Inc. now owns 4,368 shares of the conglomerate’s stock valued at $920,000 after acquiring an additional 335 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of 3M by 0.9% during the 3rd quarter. Raymond James Trust N.A. now owns 68,630 shares of the conglomerate’s stock worth $14,461,000 after purchasing an additional 610 shares during the last quarter. McCollum Christoferson Group LLC increased its stake in shares of 3M by 1.6% during the 3rd quarter. McCollum Christoferson Group LLC now owns 32,060 shares of the conglomerate’s stock worth $6,755,000 after purchasing an additional 520 shares during the last quarter. Allianz Life Insurance Co. of North America acquired a new position in shares of 3M during the 3rd quarter worth $219,000. Finally, First Hawaiian Bank increased its stake in shares of 3M by 184.0% during the 3rd quarter. First Hawaiian Bank now owns 8,289 shares of the conglomerate’s stock worth $1,746,000 after purchasing an additional 5,370 shares during the last quarter. Hedge funds and other institutional investors own 67.66% of the company’s stock.

MMM traded down $2.97 during midday trading on Friday, hitting $201.10. The company had a trading volume of 2,429,271 shares, compared to its average volume of 3,107,940. The company has a current ratio of 1.97, a quick ratio of 1.36 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $117.21 billion, a PE ratio of 21.93, a PEG ratio of 1.98 and a beta of 1.18. 3M Co has a twelve month low of $181.98 and a twelve month high of $259.77.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.12). 3M had a net margin of 13.79% and a return on equity of 54.60%. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.41 billion. During the same quarter in the previous year, the business posted $2.33 EPS. The company’s revenue was down .2% compared to the same quarter last year. On average, research analysts predict that 3M Co will post 10.02 EPS for the current year.

In other news, Director Gregory R. Page acquired 1,000 shares of 3M stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average price of $184.50 per share, with a total value of $184,500.00. Following the purchase, the director now directly owns 1,500 shares of the company’s stock, valued at $276,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric D. Hammes sold 1,272 shares of 3M stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $216.00, for a total transaction of $274,752.00. Following the transaction, the insider now directly owns 5,634 shares in the company, valued at approximately $1,216,944. The disclosure for this sale can be found here. 0.58% of the stock is owned by insiders.

MMM has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research note on Monday, October 29th. ValuEngine raised shares of 3M from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Barclays reduced their price target on shares of 3M from $210.00 to $201.00 and set an “underweight” rating for the company in a report on Wednesday, July 25th. Citigroup reduced their price target on shares of 3M from $251.00 to $228.00 and set a “buy” rating for the company in a report on Wednesday, October 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $234.00 price objective on shares of 3M in a report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $225.23.

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3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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