Intellectus Partners LLC Trims Stake in 3M Co (MMM)

Intellectus Partners LLC cut its stake in shares of 3M Co (NYSE:MMM) by 83.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 455 shares of the conglomerate’s stock after selling 2,296 shares during the quarter. Intellectus Partners LLC’s holdings in 3M were worth $87,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Penserra Capital Management LLC bought a new position in 3M during the 4th quarter valued at approximately $35,000. Intercontinental Wealth Advisors LLC bought a new position in 3M during the 4th quarter valued at approximately $38,000. Essex Investment Management Co. LLC bought a new position in 3M during the 4th quarter valued at approximately $39,000. Westside Investment Management Inc. increased its position in 3M by 96.2% during the 4th quarter. Westside Investment Management Inc. now owns 255 shares of the conglomerate’s stock valued at $49,000 after buying an additional 125 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in 3M during the 4th quarter valued at approximately $72,000. Institutional investors own 67.22% of the company’s stock.

A number of research firms recently weighed in on MMM. Gordon Haskett lowered 3M from a “buy” rating to a “hold” rating and set a $191.98 price objective for the company. in a research report on Monday, April 29th. Citigroup set a $221.00 price objective on 3M and gave the company a “buy” rating in a research report on Friday, April 26th. Morgan Stanley set a $184.00 price objective on 3M and gave the company a “hold” rating in a research report on Friday, April 26th. Wolfe Research set a $174.00 price objective on 3M and gave the company a “sell” rating in a research report on Friday, April 26th. Finally, Deutsche Bank reduced their price objective on 3M from $188.00 to $183.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $197.92.

In other news, Director Gregory R. Page purchased 1,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were purchased at an average cost of $176.26 per share, for a total transaction of $176,260.00. Following the purchase, the director now directly owns 4,000 shares in the company, valued at approximately $705,040. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joaquin Delgado sold 4,897 shares of the firm’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $207.30, for a total value of $1,015,148.10. Following the completion of the transaction, the executive vice president now owns 23,191 shares in the company, valued at $4,807,494.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,825 shares of company stock worth $5,450,218. Company insiders own 0.83% of the company’s stock.

Shares of 3M stock traded up $0.58 on Friday, reaching $175.86. The company’s stock had a trading volume of 4,746,425 shares, compared to its average volume of 3,772,611. The firm has a market cap of $101.04 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.82 and a beta of 0.99. 3M Co has a 52 week low of $173.01 and a 52 week high of $219.75. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.60.

3M (NYSE:MMM) last posted its earnings results on Thursday, April 25th. The conglomerate reported $2.23 EPS for the quarter, missing the Zacks’ consensus estimate of $2.50 by ($0.27). The business had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $8.02 billion. 3M had a return on equity of 57.42% and a net margin of 17.43%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 EPS. On average, equities research analysts forecast that 3M Co will post 9.45 EPS for the current fiscal year.

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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.

Further Reading: Analyzing a company’s cash flow statement

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

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