Natixis Advisors L.P. Has $10.02 Million Stock Holdings in 3M (NYSE:MMM)

Natixis Advisors L.P. grew its position in 3M (NYSE:MMM) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,669 shares of the conglomerate’s stock after purchasing an additional 1,829 shares during the period. Natixis Advisors L.P.’s holdings in 3M were worth $10,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. Pacer Advisors Inc. raised its holdings in 3M by 1,273.9% during the fourth 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. International Assets Investment Management LLC lifted its position in shares of 3M by 8,766.0% during 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 acquiring an additional 1,068,748 shares during the period. Van ECK Associates Corp lifted its position in 3M by 20.8% during the third quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock worth $275,630,000 after purchasing an additional 506,654 shares during the period. FMR LLC boosted its position in shares of 3M by 29.8% during the 3rd 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 in the last quarter. Finally, Nuance Investments LLC boosted its holdings in shares of 3M by 10.1% in the 3rd quarter. Nuance Investments LLC now owns 4,062,557 shares of the conglomerate’s stock valued at $380,337,000 after purchasing an additional 371,935 shares in the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

Insiders Place Their Bets

In other 3M news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the stock in a transaction that occurred on 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 can be accessed through this hyperlink. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MMM. UBS Group lifted their price target on shares of 3M from $98.00 to $100.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Bank of America lowered their price objective on 3M from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $111.00 in a report on Wednesday, May 1st. Barclays dropped their price target on 3M from $126.00 to $107.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 2nd. Finally, Citigroup increased their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $103.70.

3M Trading Up 0.8 %

Shares of MMM stock opened at $96.35 on Thursday. The company has a 50-day simple moving average of $96.30 and a two-hundred day simple moving average of $97.84. 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 has a 52-week low of $71.12 and a 52-week high of $99.70. The company has a market capitalization of $53.32 billion, a price-to-earnings ratio of -7.57, a PEG ratio of 1.79 and a beta of 1.00.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The business 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 company posted $1.97 earnings per share. Research analysts anticipate that 3M will post 7.23 EPS for the current fiscal year.

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.