Clifford Swan Investment Counsel LLC Buys 465 Shares of 3M Co (MMM)

Clifford Swan Investment Counsel LLC raised its holdings in 3M Co (NYSE:MMM) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,165 shares of the conglomerate’s stock after acquiring an additional 465 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in 3M were worth $13,179,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Addenda Capital Inc. boosted its holdings in 3M by 2.4% in the fourth quarter. Addenda Capital Inc. now owns 9,694 shares of the conglomerate’s stock valued at $1,846,000 after acquiring an additional 223 shares during the last quarter. Joel Isaacson & Co. LLC boosted its holdings in 3M by 41.4% in the fourth quarter. Joel Isaacson & Co. LLC now owns 12,887 shares of the conglomerate’s stock valued at $2,477,000 after acquiring an additional 3,776 shares during the last quarter. Morgan Stanley boosted its holdings in 3M by 11.9% in the third quarter. Morgan Stanley now owns 4,042,904 shares of the conglomerate’s stock valued at $851,879,000 after acquiring an additional 430,262 shares during the last quarter. Gardiner Nancy B boosted its holdings in 3M by 4.8% in the fourth quarter. Gardiner Nancy B now owns 7,844 shares of the conglomerate’s stock valued at $1,496,000 after acquiring an additional 356 shares during the last quarter. Finally, F3Logic LLC boosted its holdings in 3M by 254.0% in the fourth quarter. F3Logic LLC now owns 28,205 shares of the conglomerate’s stock valued at $5,385,000 after acquiring an additional 20,238 shares during the last quarter. Hedge funds and other institutional investors own 67.11% of the company’s stock.

Several analysts recently commented on MMM shares. Argus cut 3M from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Morgan Stanley dropped their price target on 3M from $201.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Friday, March 22nd. Bank of America lowered 3M from a “buy” rating to a “neutral” rating in a research note on Friday, April 26th. Finally, Barclays dropped their price target on 3M from $189.00 to $188.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $197.92.

In other news, insider Paul A. Keel sold 9,410 shares of the company’s stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $199.14, for a total transaction of $1,873,907.40. Following the transaction, the insider now directly owns 23,009 shares of the company’s stock, valued at $4,582,012.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James L. Bauman sold 16,065 shares of the stock in a transaction on Monday, February 11th. The shares were sold at an average price of $200.24, for a total value of $3,216,855.60. Following the completion of the sale, the insider now directly owns 40,468 shares of the company’s stock, valued at $8,103,312.32. The disclosure for this sale can be found here. Insiders have sold 63,915 shares of company stock worth $12,853,882 over the last ninety days. 0.83% of the stock is owned by insiders.

Shares of NYSE:MMM traded up $0.47 during trading on Friday, reaching $185.22. 4,747,685 shares of the stock were exchanged, compared to its average volume of 2,429,606. The company has a quick ratio of 1.38, a current ratio of 2.02 and a debt-to-equity ratio of 1.60. 3M Co has a 1-year low of $176.87 and a 1-year high of $219.75. The firm has a market capitalization of $106.77 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.97 and a beta of 0.99.

3M (NYSE:MMM) last issued its earnings results on Thursday, April 25th. The conglomerate reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). 3M had a return on equity of 57.42% and a net margin of 17.43%. The firm had revenue of $7.86 billion for the quarter, compared to analyst estimates of $8.02 billion. During the same period in the previous year, the company earned $2.50 earnings per share. 3M’s revenue for the quarter was down 5.0% compared to the same quarter last year. Equities research analysts anticipate that 3M Co will post 9.45 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Clifford Swan Investment Counsel LLC Buys 465 Shares of 3M Co (MMM)” was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The original version of this piece can be viewed at https://www.baseballdailydigest.com/news/2019/05/04/3m-co-mmm-shares-bought-by-clifford-swan-investment-counsel-llc.html.

About 3M

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.

See Also: Trading Strategy Examples and Plans

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.