3M Co (MMM) Holdings Cut by Stephens Inc. AR

Stephens Inc. AR reduced its stake in 3M Co (NYSE:MMM) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 61,420 shares of the conglomerate’s stock after selling 591 shares during the quarter. Stephens Inc. AR’s holdings in 3M were worth $11,703,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MMM. Addenda Capital Inc. boosted its stake in 3M by 2.4% during the 4th quarter. Addenda Capital Inc. now owns 9,694 shares of the conglomerate’s stock worth $1,846,000 after purchasing an additional 223 shares during the period. Joel Isaacson & Co. LLC lifted its stake in shares of 3M by 41.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 12,887 shares of the conglomerate’s stock worth $2,477,000 after acquiring an additional 3,776 shares during the period. Morgan Stanley lifted its stake in shares of 3M by 11.9% in the 3rd quarter. Morgan Stanley now owns 4,042,904 shares of the conglomerate’s stock worth $851,879,000 after acquiring an additional 430,262 shares during the period. Gardiner Nancy B lifted its stake in shares of 3M by 4.8% in the 4th quarter. Gardiner Nancy B now owns 7,844 shares of the conglomerate’s stock worth $1,496,000 after acquiring an additional 356 shares during the period. Finally, F3Logic LLC lifted its stake in shares of 3M by 254.0% in the 4th quarter. F3Logic LLC now owns 28,205 shares of the conglomerate’s stock worth $5,385,000 after acquiring an additional 20,238 shares during the period. Hedge funds and other institutional investors own 67.20% of the company’s stock.

Several analysts have recently commented on the stock. Credit Suisse Group restated an “outperform” rating and issued a $220.00 target price (down previously from $230.00) on shares of 3M in a research note on Thursday, January 3rd. Barclays cut their price target on shares of 3M from $190.00 to $189.00 and set an “underweight” rating for the company in a report on Thursday, January 3rd. JPMorgan Chase & Co. cut their price target on shares of 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a report on Friday, March 29th. reiterated a “sell” rating on shares of 3M in a report on Tuesday, February 12th. Finally, Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $205.50.

Shares of NYSE MMM traded up $1.24 during midday trading on Friday, reaching $218.88. 1,780,159 shares of the stock were exchanged, compared to its average volume of 1,778,938. The company has a market cap of $126.03 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05. 3M Co has a 52-week low of $176.87 and a 52-week high of $220.28. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29.

3M (NYSE:MMM) last released its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.03. 3M had a net margin of 16.33% and a return on equity of 57.70%. The business had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $7.87 billion. During the same period last year, the company earned $2.10 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts anticipate that 3M Co will post 10.51 EPS for the current year.

In other 3M news, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the transaction, the chairman now directly owns 230,458 shares of the company’s stock, valued at $46,091,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Inge G. Thulin sold 5,863 shares of 3M stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $207.78, for a total transaction of $1,218,214.14. Following the transaction, the chairman now directly owns 268,188 shares in the company, valued at $55,724,102.64. The disclosure for this sale can be found here. Insiders sold 77,414 shares of company stock worth $15,553,682 over the last three months. Corporate insiders own 0.83% of the company’s stock.

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3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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

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