3M (NYSE:MMM) Shares Acquired by Northern Financial Advisors Inc

Northern Financial Advisors Inc lifted its stake in 3M (NYSE:MMM) by 132.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,119 shares of the conglomerate’s stock after acquiring an additional 5,191 shares during the quarter. Northern Financial Advisors Inc’s holdings in 3M were worth $997,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in 3M by 1,273.9% during the 4th quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock worth $413,637,000 after acquiring an additional 3,508,334 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in 3M by 157.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock worth $197,377,000 after buying an additional 1,103,459 shares in the last quarter. International Assets Investment Management LLC boosted its position in 3M by 8,766.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock valued at $118,168,000 after buying an additional 1,068,748 shares during the period. Van ECK Associates Corp grew its stake in shares of 3M by 20.8% in the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after acquiring an additional 506,654 shares in the last quarter. Finally, FMR LLC increased its position in shares of 3M by 29.8% during the third quarter. FMR LLC now owns 1,908,914 shares of the conglomerate’s stock worth $178,713,000 after acquiring an additional 438,424 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $111.00 in a research note on Wednesday, May 1st. Citigroup upped their target price on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company decreased their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 24th. Bank of America dropped their price objective on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their target price on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $103.70.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total transaction of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares in the company, valued at $366,141.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.

3M Stock Performance

NYSE:MMM traded up $0.37 during midday trading on Wednesday, reaching $95.91. The stock had a trading volume of 1,164,635 shares, compared to its average volume of 5,816,501. 3M has a 12-month low of $71.12 and a 12-month high of $99.70. The stock has a market cap of $53.07 billion, a P/E ratio of -7.49, a P/E/G ratio of 1.79 and a beta of 1.00. The company has a quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. The firm has a fifty day simple moving average of $96.30 and a two-hundred day simple moving average of $97.84.

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