Mizuho Securities USA LLC Has $4.87 Million Holdings in 3M (NYSE:MMM)

Mizuho Securities USA LLC decreased its holdings in shares of 3M (NYSE:MMM) by 16.5% in the third quarter, Holdings Channel reports. The firm owned 35,623 shares of the conglomerate’s stock after selling 7,041 shares during the quarter. Mizuho Securities USA LLC’s holdings in 3M were worth $4,870,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. MFA Wealth Advisors LLC bought a new stake in 3M during the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC boosted its stake in shares of 3M by 8.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after purchasing an additional 17,211 shares during the last quarter. McClarren Financial Advisors Inc. grew its position in shares of 3M by 118.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock worth $30,000 after buying an additional 121 shares during the period. Meeder Asset Management Inc. lifted its holdings in 3M by 689.7% in the second quarter. Meeder Asset Management Inc. now owns 308 shares of the conglomerate’s stock valued at $31,000 after buying an additional 269 shares during the period. Finally, TruNorth Capital Management LLC acquired a new stake in 3M during the 2nd quarter worth $33,000. 65.25% of the stock is currently owned by institutional investors.

3M Stock Down 0.4 %

Shares of MMM opened at $127.32 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. 3M has a 12 month low of $75.40 and a 12 month high of $141.34. The firm’s 50 day moving average is $132.66 and its 200-day moving average is $118.73. The stock has a market capitalization of $69.33 billion, a PE ratio of 16.08, a P/E/G ratio of 2.12 and a beta of 0.95.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share 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 firm had revenue of $6.29 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same period in the previous year, the firm earned $2.68 EPS. The company’s quarterly revenue was down 24.3% compared to the same quarter last year. Equities research analysts forecast that 3M will post 7.27 EPS for the current year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, November 15th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.20%. 3M’s dividend payout ratio (DPR) is currently 35.35%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MMM shares. StockNews.com cut 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company upped their target price on shares of 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. boosted their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Mizuho lifted their target price on 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Citigroup increased their price target on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, four have issued 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 an average rating of “Moderate Buy” and a consensus price target of $144.87.

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.