Nan Shan Life Insurance Co. Ltd. Invests $35.86 Million in 3M (NYSE:MMM)


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Nan Shan Life Insurance Co. Ltd. acquired a new position in 3M (NYSE:MMM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 205,180 shares of the conglomerate’s stock, valued at approximately $35,863,000.

Other hedge funds also recently modified their holdings of the company. Financial Avengers Inc. purchased a new stake in 3M during the 4th quarter worth approximately $26,000. Adams Wealth Management purchased a new stake in 3M during the 3rd quarter worth approximately $32,000. Aua Capital Management LLC purchased a new stake in 3M during the 3rd quarter worth approximately $41,000. Newfound Research LLC purchased a new stake in 3M during the 4th quarter worth approximately $41,000. Finally, Summit X LLC purchased a new stake in 3M during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 64.68% of the company’s stock.

In other news, EVP Jeffrey R. Lavers sold 6,219 shares of the firm’s stock in a transaction on Tuesday, December 8th. The shares were sold at an average price of $172.09, for a total value of $1,070,227.71. Following the completion of the sale, the executive vice president now owns 10,643 shares in the company, valued at approximately $1,831,553.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael G. Vale sold 30,875 shares of the firm’s stock in a transaction on Friday, January 29th. The stock was sold at an average price of $175.53, for a total transaction of $5,419,488.75. Following the completion of the sale, the executive vice president now owns 79,155 shares of the company’s stock, valued at approximately $13,894,077.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,904 shares of company stock valued at $7,514,868. 0.42% of the stock is owned by company insiders.

MMM has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of 3M from $176.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 12th. William Blair reissued a “market perform” rating on shares of 3M in a research report on Tuesday, October 27th. Royal Bank of Canada reissued a “hold” rating on shares of 3M in a research report on Sunday, January 24th. TheStreet raised shares of 3M from a “c+” rating to a “b” rating in a research report on Tuesday, October 27th. Finally, Argus raised shares of 3M from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Wednesday, February 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $180.23.

NYSE:MMM traded down $0.66 during trading hours on Tuesday, reaching $175.46. 46,188 shares of the company’s stock were exchanged, compared to its average volume of 3,009,451. The firm has a market capitalization of $101.61 billion, a price-to-earnings ratio of 20.62, a P/E/G ratio of 1.85 and a beta of 0.92. The company has a 50-day moving average of $173.52 and a 200 day moving average of $169.25. The company has a quick ratio of 1.37, a current ratio of 1.90 and a debt-to-equity ratio of 1.54. 3M has a 1-year low of $114.04 and a 1-year high of $187.27.

3M (NYSE:MMM) last issued its quarterly earnings results on Monday, January 25th. The conglomerate reported $2.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.23. The firm had revenue of $8.58 billion during the quarter, compared to analysts’ expectations of $8.39 billion. 3M had a net margin of 15.65% and a return on equity of 44.77%. 3M’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.15 EPS. Research analysts forecast that 3M will post 8.56 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 12th. Investors of record on Friday, February 12th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Thursday, February 11th. This represents a $5.92 dividend on an annualized basis and a yield of 3.37%. This is a boost from 3M’s previous quarterly dividend of $1.47. 3M’s dividend payout ratio is currently 65.05%.

About 3M

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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