3M Co (NYSE:MMM) Shares Bought by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC lifted its stake in 3M Co (NYSE:MMM) by 0.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 44,567 shares of the conglomerate’s stock after acquiring an additional 75 shares during the quarter. 3M accounts for 3.5% of Hunter Associates Investment Management LLC’s investment portfolio, making the stock its 5th largest position. Hunter Associates Investment Management LLC’s holdings in 3M were worth $8,492,000 as of its most recent filing with the SEC.

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

A number of brokerages recently weighed in on MMM. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. Morgan Stanley reduced their target price on shares of 3M from $201.00 to $199.00 and set an “equal weight” rating for the company in a research note on Friday, March 22nd. Barclays reduced their target price on shares of 3M from $189.00 to $188.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. reduced their target price on shares of 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research note on Friday, March 29th. Finally, 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. 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.

NYSE:MMM traded up $1.24 during mid-day trading on Friday, hitting $218.88. 1,780,159 shares of the company’s stock traded hands, compared to its average volume of 1,778,938. The company has a market capitalization of $126.03 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05. 3M Co has a 1 year low of $176.87 and a 1 year high of $220.28. The company has a current ratio of 1.89, a quick ratio of 1.29 and a debt-to-equity ratio of 1.36.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.03. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $7.87 billion. 3M had a net margin of 16.33% and a return on equity of 57.70%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.10 earnings per share. On average, equities research analysts predict that 3M Co will post 10.51 earnings per share for the current year.

In other news, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction dated 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 completion of the sale, the chairman now directly owns 230,458 shares in the company, valued at $46,091,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Inge G. Thulin sold 5,863 shares of the firm’s stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $207.78, for a total transaction of $1,218,214.14. Following the completion of the sale, 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. Over the last quarter, insiders have sold 77,414 shares of company stock valued at $15,553,682. 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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