OMERS ADMINISTRATION Corp Sells 2,547 Shares of 3M (NYSE:MMM)

OMERS ADMINISTRATION Corp lowered its stake in shares of 3M (NYSE:MMM) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,663 shares of the conglomerate’s stock after selling 2,547 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in 3M were worth $4,216,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Financial Life Planners bought a new stake in 3M during the fourth quarter worth $25,000. Hazlett Burt & Watson Inc. purchased a new position in 3M in the fourth quarter worth $27,000. Meeder Asset Management Inc. boosted its position in 3M by 230.1% in the fourth quarter. Meeder Asset Management Inc. now owns 307 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 214 shares during the last quarter. Catalyst Capital Advisors LLC boosted its position in 3M by 81.5% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the conglomerate’s stock worth $47,000 after purchasing an additional 163 shares during the last quarter. Finally, Greenline Partners LLC purchased a new position in 3M in the fourth quarter worth $50,000. Institutional investors own 65.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MMM has been the topic of several research analyst reports. Royal Bank of Canada boosted their price objective on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price objective on 3M from $165.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Barclays boosted their price objective on 3M from $160.00 to $164.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 23rd. Bank of America boosted their price objective on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. Finally, Citigroup cut their price objective on 3M from $152.00 to $142.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.29.

3M Price Performance

Shares of NYSE:MMM opened at $150.73 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.41 and a debt-to-equity ratio of 2.86. The firm has a market capitalization of $81.12 billion, a PE ratio of 19.96, a P/E/G ratio of 3.30 and a beta of 1.02. 3M has a twelve month low of $96.76 and a twelve month high of $156.35. The company has a 50-day moving average price of $141.43 and a two-hundred day moving average price of $138.96.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 22nd. The conglomerate reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. Equities analysts forecast that 3M will post 7.8 EPS for the current year.

3M Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Friday, May 23rd will be issued a dividend of $0.73 per share. This represents a $2.92 dividend on an annualized basis and a yield of 1.94%. 3M’s dividend payout ratio (DPR) is 36.87%.

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.