Ceera Investments LLC Has $1.38 Million Stake in 3M (NYSE:MMM)

Ceera Investments LLC decreased its position in 3M (NYSE:MMM) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,122 shares of the conglomerate’s stock after selling 180 shares during the quarter. Ceera Investments LLC’s holdings in 3M were worth $1,384,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in 3M during the third quarter worth $138,000. Tower Bridge Advisors bought a new stake in 3M during the third quarter worth $422,000. Seizert Capital Partners LLC lifted its stake in 3M by 2.2% during the third quarter. Seizert Capital Partners LLC now owns 14,587 shares of the conglomerate’s stock worth $1,994,000 after purchasing an additional 311 shares during the last quarter. Heritage Investment Group Inc. bought a new stake in 3M during the third quarter worth $234,000. Finally, RIA Advisory Group LLC bought a new stake in 3M during the third quarter worth $1,662,000. Institutional investors and hedge funds own 65.25% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on 3M from $160.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Argus upgraded 3M from a “hold” rating to a “buy” rating and set a $145.00 target price for the company in a research note on Tuesday, July 30th. UBS Group upgraded 3M from a “neutral” rating to a “buy” rating and increased their price target for the company from $130.00 to $184.00 in a research note on Wednesday. Barclays increased their price target on 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their price target on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.87.

3M Price Performance

Shares of NYSE MMM opened at $129.79 on Friday. 3M has a twelve month low of $75.40 and a twelve month high of $141.34. The stock’s 50 day moving average price is $132.80 and its 200-day moving average price is $118.01. The company has a market capitalization of $70.68 billion, a PE ratio of 16.39, a PEG ratio of 2.15 and a beta of 0.95. The company has a quick ratio of 1.08, a current ratio of 1.43 and a debt-to-equity ratio of 2.41.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. 3M had a return on equity of 104.66% and a net margin of 15.37%. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. 3M’s revenue for the quarter was down 24.3% on a year-over-year basis. On average, equities analysts anticipate that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 15th will be paid a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.16%. 3M’s payout ratio is 35.35%.

3M 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.