National Pension Service Boosts Stake in 3M (NYSE:MMM)

National Pension Service lifted its holdings in 3M (NYSE:MMM) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,075,090 shares of the conglomerate’s stock after purchasing an additional 24,718 shares during the quarter. National Pension Service’s holdings in 3M were worth $117,529,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MMM. Briaud Financial Planning Inc acquired a new position in shares of 3M during the 3rd quarter worth approximately $35,000. Authentikos Wealth Advisory LLC acquired a new position in 3M during the third quarter worth $37,000. CGC Financial Services LLC lifted its holdings in 3M by 89.9% during the fourth quarter. CGC Financial Services LLC now owns 338 shares of the conglomerate’s stock valued at $37,000 after purchasing an additional 160 shares in the last quarter. VisionPoint Advisory Group LLC grew its position in shares of 3M by 91.9% in the third quarter. VisionPoint Advisory Group LLC now owns 449 shares of the conglomerate’s stock valued at $42,000 after purchasing an additional 215 shares during the period. Finally, Psagot Value Holdings Ltd. Israel purchased a new stake in shares of 3M during the third quarter worth about $44,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insider Buying and Selling at 3M

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total transaction of $39,328.32. Following the completion of the transaction, the insider now directly owns 3,966 shares in the company, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $111.00 in a report on Wednesday, May 1st. Barclays lowered their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Wells Fargo & Company reduced their price objective on 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Mizuho reaffirmed a “neutral” rating and set a $105.00 target price on shares of 3M in a research note on Wednesday, March 27th. Finally, Citigroup increased their target price on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $103.70.

3M Trading Up 0.8 %

3M stock traded up $0.81 during midday trading on Wednesday, hitting $96.35. 3,488,807 shares of the stock were exchanged, compared to its average volume of 5,841,330. The company has a current ratio of 1.64, a quick ratio of 1.27 and a debt-to-equity ratio of 4.17. The stock has a market capitalization of $53.32 billion, a price-to-earnings ratio of -7.57, a PEG ratio of 1.79 and a beta of 1.00. The stock’s 50-day simple moving average is $96.30 and its 200 day simple moving average is $97.84. 3M has a fifty-two week low of $71.12 and a fifty-two week high of $99.70.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter last year, the firm earned $1.97 EPS. On average, equities analysts anticipate that 3M will post 7.23 EPS for the current year.

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.