Northern Financial Advisors Inc Has $997,000 Stock Holdings in 3M (NYSE:MMM)

Northern Financial Advisors Inc raised its stake in shares of 3M (NYSE:MMM) by 132.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,119 shares of the conglomerate’s stock after buying an additional 5,191 shares during the period. Northern Financial Advisors Inc’s holdings in 3M were worth $997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. grew its stake in 3M by 1,273.9% in the fourth quarter. Pacer Advisors Inc. now owns 3,783,726 shares of the conglomerate’s stock valued at $413,637,000 after purchasing an additional 3,508,334 shares in the last quarter. Los Angeles Capital Management LLC raised its position in 3M by 157.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,805,496 shares of the conglomerate’s stock valued at $197,377,000 after acquiring an additional 1,103,459 shares in the last quarter. International Assets Investment Management LLC grew its position in 3M by 8,766.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,080,940 shares of the conglomerate’s stock worth $118,168,000 after acquiring an additional 1,068,748 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of 3M by 20.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,944,135 shares of the conglomerate’s stock valued at $275,630,000 after purchasing an additional 506,654 shares in the last quarter. Finally, FMR LLC raised its holdings in 3M by 29.8% during the third quarter. FMR LLC now owns 1,908,914 shares of the conglomerate’s stock valued at $178,713,000 after buying an additional 438,424 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada increased their price objective on 3M from $78.00 to $87.00 and gave the company an “underperform” rating in a report on Wednesday, May 1st. Bank of America dropped their price target on shares of 3M from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of 3M from $112.00 to $105.00 and set an “equal weight” rating for the company in a report on Wednesday, January 24th. UBS Group boosted their target price 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. Finally, JPMorgan Chase & Co. raised 3M from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $110.00 to $111.00 in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, 3M has an average rating of “Hold” and a consensus target price of $103.70.

3M Price Performance

Shares of NYSE:MMM traded up $0.37 during midday trading on Wednesday, reaching $95.91. 1,164,635 shares of the company’s stock were exchanged, compared to its average volume of 5,816,501. The firm has a market capitalization of $53.07 billion, a PE ratio of -7.49, a price-to-earnings-growth ratio of 1.79 and a beta of 1.00. The company’s 50 day simple moving average is $96.30 and its two-hundred day simple moving average is $97.84. 3M has a 12 month low of $71.12 and a 12 month high of $99.70. 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 (NYSE:MMM) last released its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.29. The company had revenue of $8 billion for the quarter, compared to analyst estimates of $7.64 billion. 3M had a positive return on equity of 95.80% and a negative net margin of 21.57%. During the same period in the prior year, the company posted $1.97 EPS. Equities research analysts expect that 3M will post 7.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the sale, the insider now owns 3,966 shares in the company, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.

About 3M

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.