Oregon Public Employees Retirement Fund Boosts Stock Holdings in 3M (NYSE:MMM)

Oregon Public Employees Retirement Fund lifted its position in shares of 3M (NYSE:MMM) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,546 shares of the conglomerate’s stock after acquiring an additional 300 shares during the period. Oregon Public Employees Retirement Fund’s holdings in 3M were worth $4,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. Tributary Capital Management LLC purchased a new position in shares of 3M in the first quarter worth $25,000. Financial Synergies Wealth Advisors Inc. raised its position in 3M by 419.1% in the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the last quarter. MFA Wealth Advisors LLC bought a new position in 3M during the 2nd quarter valued at about $28,000. Northwest Investment Counselors LLC bought a new position in 3M during the 1st quarter valued at about $32,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of 3M during the 2nd quarter valued at about $33,000. 65.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total value of $700,635.50. Following the transaction, the chairman now directly owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of 3M stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total value of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Michael F. Roman sold 5,675 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.46, for a total transaction of $700,635.50. Following the completion of the sale, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.56. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

3M Price Performance

NYSE MMM opened at $132.11 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95. 3M has a 12 month low of $71.12 and a 12 month high of $134.99. The stock has a market cap of $73.10 billion, a price-to-earnings ratio of -10.39, a PEG ratio of 2.49 and a beta of 0.95. The company’s 50 day moving average is $117.39 and its two-hundred day moving average is $104.55.

3M (NYSE:MMM) last announced its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 EPS for the quarter, beating the consensus estimate of $1.68 by $0.25. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same period last year, the firm earned $2.17 EPS. As a group, research analysts anticipate that 3M will post 7.2 earnings per share for the current year.

3M Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 26th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Monday, August 26th. 3M’s dividend payout ratio (DPR) is -22.01%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MMM shares. StockNews.com downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. HSBC raised 3M from a “hold” rating to a “buy” rating and increased their price target for the company from $91.13 to $115.00 in a report on Friday, May 10th. Citigroup lifted their price objective on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.00 target price on the stock in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft upgraded 3M from a “hold” rating to a “buy” rating and boosted their price target for the company from $110.00 to $150.00 in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $124.38.

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.