Nichols & Pratt Advisers LLP MA Trims Position in 3M (NYSE:MMM)

Nichols & Pratt Advisers LLP MA lessened its holdings in shares of 3M (NYSE:MMM) by 0.4% during the 4th quarter, HoldingsChannel reports. The fund owned 27,820 shares of the conglomerate’s stock after selling 115 shares during the quarter. 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).

Several other hedge funds have also bought and sold shares of MMM. Breed s Hill Capital LLC bought a new position in shares of 3M in the fourth quarter worth about $276,000. Pinnacle Wealth Management Advisory Group LLC grew its holdings in 3M by 3.0% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,161 shares of the conglomerate’s stock valued at $455,000 after buying an additional 123 shares in the last quarter. National Pension Service increased its holdings in 3M by 2.4% in the 4th quarter. National Pension Service now owns 1,075,090 shares of the conglomerate’s stock valued at $117,529,000 after acquiring an additional 24,718 shares during the last quarter. Patrick M Sweeney & Associates Inc. purchased a new stake in 3M in the 4th quarter worth $489,000. Finally, Peddock Capital Advisors LLC boosted its holdings in shares of 3M by 36.3% during the 4th quarter. Peddock Capital Advisors LLC now owns 5,930 shares of the conglomerate’s stock valued at $648,000 after purchasing an additional 1,580 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. Wells Fargo & Company cut their price target on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 24th. HSBC upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $91.13 to $115.00 in a report on Friday. Citigroup raised their target price on shares of 3M from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. upgraded 3M from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $110.00 to $111.00 in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.30.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $92.32, for a total value of $39,328.32. Following the transaction, the insider now directly owns 3,966 shares of the company’s stock, valued at $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

3M Stock Up 2.0 %

Shares of 3M stock traded up $1.96 on Friday, reaching $99.29. The stock had a trading volume of 2,109,620 shares, compared to its average volume of 5,765,711. The stock has a market capitalization of $54.94 billion, a P/E 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 quick ratio of 1.27, a current ratio of 1.64 and a debt-to-equity ratio of 4.17. The company has a 50 day moving average price of $96.50 and a 200 day moving average price of $97.82.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 EPS 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 firm had revenue of $8 billion during the quarter, compared to analyst estimates of $7.64 billion. During the same quarter in the prior year, the business posted $1.97 EPS. As a group, equities research analysts forecast 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.