3M (NYSE:MMM) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV cut its holdings in shares of 3M (NYSE:MMMGet Rating) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,578 shares of the conglomerate’s stock after selling 4,848 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in 3M were worth $9,517,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. DB Fitzpatrick & Co Inc acquired a new position in shares of 3M in the fourth quarter worth about $29,000. Goodwin Investment Advisory acquired a new position in shares of 3M in the third quarter worth about $30,000. Avion Wealth raised its position in shares of 3M by 77.7% in the third quarter. Avion Wealth now owns 183 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 80 shares during the period. Atticus Wealth Management LLC acquired a new position in shares of 3M in the fourth quarter worth about $36,000. Finally, US Asset Management LLC acquired a new position in shares of 3M in the third quarter worth about $40,000. Institutional investors own 66.06% of the company’s stock.

3M stock traded up $3.35 during trading on Tuesday, reaching $149.53. 50,960 shares of the company were exchanged, compared to its average volume of 3,387,002. 3M has a 52-week low of $139.74 and a 52-week high of $208.95. The company has a market capitalization of $85.11 billion, a P/E ratio of 14.74, a PEG ratio of 1.52 and a beta of 0.97. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.70 and a quick ratio of 1.15. The stock’s 50 day simple moving average is $149.01 and its two-hundred day simple moving average is $166.90.

3M (NYSE:MMMGet Rating) last announced its quarterly earnings data on Tuesday, January 25th. The conglomerate reported $2.31 EPS for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.28. 3M had a return on equity of 40.84% and a net margin of 16.75%. The firm had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter last year, the business posted $2.38 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts forecast that 3M will post 10.22 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 12th. Investors of record on Friday, February 18th were given a dividend of $1.49 per share. This is an increase from 3M’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, February 17th. This represents a $5.96 dividend on an annualized basis and a yield of 3.99%. 3M’s dividend payout ratio (DPR) is presently 58.89%.

A number of brokerages have weighed in on MMM. Citigroup decreased their price objective on shares of 3M from $190.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, February 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of 3M from $180.00 to $167.00 and set a “hold” rating for the company in a research report on Thursday, April 14th. StockNews.com assumed coverage on shares of 3M in a research note on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley cut their target price on shares of 3M from $150.00 to $145.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Finally, Argus cut their target price on shares of 3M from $225.00 to $190.00 in a research note on Wednesday, January 26th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $172.40.

3M Profile (Get Rating)

3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The 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.

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

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