Mesirow Financial Investment Management Inc. Trims Stake in 3M (NYSE:MMM)

Mesirow Financial Investment Management Inc. lowered its holdings in 3M (NYSE:MMM) by 3.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,588 shares of the conglomerate’s stock after selling 276 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in 3M were worth $1,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MMM. Capital World Investors purchased a new stake in shares of 3M in the 1st quarter valued at $165,986,000. International Assets Investment Management LLC grew its stake in 3M by 11,601.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,261,270 shares of the conglomerate’s stock worth $172,416,000 after purchasing an additional 1,250,491 shares in the last quarter. National Bank of Canada FI grew its stake in 3M by 218.3% during the 1st quarter. National Bank of Canada FI now owns 1,489,351 shares of the conglomerate’s stock worth $147,344,000 after purchasing an additional 1,021,440 shares in the last quarter. Janus Henderson Group PLC grew its stake in 3M by 1,015.6% during the 1st quarter. Janus Henderson Group PLC now owns 888,564 shares of the conglomerate’s stock worth $94,247,000 after purchasing an additional 808,914 shares in the last quarter. Finally, Electron Capital Partners LLC acquired a new position in shares of 3M during the 2nd quarter worth about $76,732,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.

3M Stock Down 1.0 %

Shares of 3M stock opened at $133.00 on Tuesday. 3M has a 1 year low of $75.40 and a 1 year high of $141.34. The stock has a 50-day moving average price of $132.82 and a 200 day moving average price of $116.84. The company has a current ratio of 1.43, a quick ratio of 1.08 and a debt-to-equity ratio of 2.41. The company has a market cap of $72.43 billion, a P/E ratio of 16.96, a P/E/G ratio of 2.22 and a beta of 0.95.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 22nd. The conglomerate reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.05. The firm had revenue of $6.29 billion for the quarter, compared to analyst estimates of $6.06 billion. 3M had a return on equity of 104.66% and a net margin of 15.37%. The company’s revenue was down 24.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.68 EPS. As a group, analysts expect that 3M will post 7.27 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Friday, November 15th will be given a $0.70 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.80 annualized dividend and a yield of 2.11%. 3M’s payout ratio is 35.35%.

Wall Street Analyst Weigh In

Several analysts have commented on MMM shares. Wells Fargo & Company upped their price objective on 3M from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Barclays upped their price target on shares of 3M from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of 3M from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $150.00 in a report on Monday, July 29th. Citigroup increased their target price on 3M from $100.00 to $133.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Mizuho upped their price target on shares of 3M from $105.00 to $146.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $139.27.

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.