3M (NYSE:MMM) Shares Sold by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA cut its position in 3M (NYSE:MMM) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,820 shares of the conglomerate’s stock after selling 115 shares during the period. Nichols & Pratt Advisers LLP MA’s holdings in 3M were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in 3M by 0.7% during the third quarter. Vanguard Group Inc. now owns 49,033,679 shares of the conglomerate’s stock worth $4,590,533,000 after buying an additional 317,483 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in 3M by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,080,578 shares of the conglomerate’s stock worth $1,320,649,000 after buying an additional 43,732 shares in the last quarter. Invesco Ltd. lifted its position in 3M by 2.4% during the third quarter. Invesco Ltd. now owns 4,082,950 shares of the conglomerate’s stock worth $382,246,000 after buying an additional 94,864 shares in the last quarter. Nuance Investments LLC lifted its position in 3M by 10.1% during the third quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock worth $380,337,000 after buying an additional 371,935 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after purchasing an additional 3,508,334 shares during the period. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Up 2.0 %

Shares of NYSE:MMM traded up $1.96 on Friday, hitting $99.29. 2,109,620 shares of the company’s stock were exchanged, compared to its average volume of 5,765,711. The firm’s 50-day moving average is $96.50 and its 200 day moving average is $97.82. The company has a market capitalization of $54.94 billion, a PE ratio of -7.74, a P/E/G ratio of 1.79 and a beta of 1.00. 3M has a 1-year low of $71.12 and a 1-year high of $99.70. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.27 and a current ratio of 1.64.

3M (NYSE:MMM) last posted its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.29. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. The business had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same period in the previous year, the business earned $1.97 EPS. Sell-side analysts predict that 3M will post 7.23 EPS for the current year.

Wall Street Analysts Forecast Growth

MMM has been the topic of a number of research analyst reports. Royal Bank of Canada lifted their target price on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a research report on Wednesday, May 1st. UBS Group lifted their target price on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Citigroup lifted their target price on 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $110.00 to $111.00 in a research report on Wednesday, May 1st. Finally, Barclays reduced their target price on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.30.

Insider Activity

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

About 3M

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.