Reilly Financial Advisors LLC Reduces Holdings in 3M Co (NYSE:MMM)

Reilly Financial Advisors LLC trimmed its holdings in shares of 3M Co (NYSE:MMM) by 45.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 599 shares of the conglomerate’s stock after selling 501 shares during the period. Reilly Financial Advisors LLC’s holdings in 3M were worth $104,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. M. Kraus & Co grew its stake in 3M by 5.2% in the 2nd quarter. M. Kraus & Co now owns 3,630 shares of the conglomerate’s stock worth $629,000 after acquiring an additional 179 shares during the period. Physicians Financial Services Inc. grew its stake in 3M by 11.7% in the 1st quarter. Physicians Financial Services Inc. now owns 16,859 shares of the conglomerate’s stock worth $3,503,000 after acquiring an additional 1,763 shares during the period. Steinberg Global Asset Management boosted its holdings in shares of 3M by 52.6% in the 1st quarter. Steinberg Global Asset Management now owns 4,903 shares of the conglomerate’s stock valued at $1,019,000 after purchasing an additional 1,689 shares during the last quarter. Vectors Research Management LLC boosted its holdings in shares of 3M by 16.0% in the 4th quarter. Vectors Research Management LLC now owns 725 shares of the conglomerate’s stock valued at $138,000 after purchasing an additional 100 shares during the last quarter. Finally, Searle & CO. boosted its holdings in shares of 3M by 3.6% in the 1st quarter. Searle & CO. now owns 3,643 shares of the conglomerate’s stock valued at $757,000 after purchasing an additional 126 shares during the last quarter. 66.84% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MMM traded down $2.98 during midday trading on Friday, hitting $170.38. 1,174,337 shares of the company’s stock traded hands, compared to its average volume of 2,795,090. The company has a current ratio of 1.93, a quick ratio of 1.34 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $99.30 billion, a P/E ratio of 16.29, a PEG ratio of 1.87 and a beta of 1.09. The firm has a fifty day moving average price of $172.67. 3M Co has a twelve month low of $159.32 and a twelve month high of $219.75.

3M (NYSE:MMM) last posted its earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.04 by $0.16. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. 3M had a net margin of 15.27% and a return on equity of 55.05%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.59 EPS. On average, equities research analysts forecast that 3M Co will post 9.35 EPS for the current fiscal year.

A number of equities analysts have weighed in on MMM shares. Deutsche Bank decreased their price target on shares of 3M from $188.00 to $183.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Argus lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their price target on shares of 3M from $154.00 to $143.00 and set an “underweight” rating on the stock in a report on Friday, May 17th. Royal Bank of Canada set a $179.00 price target on shares of 3M and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Gordon Haskett lowered shares of 3M from a “buy” rating to a “hold” rating and set a $191.98 price target on the stock. in a report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $182.77.

In other 3M news, Director Gregory R. Page bought 1,000 shares of 3M stock in a transaction that occurred on Tuesday, May 7th. The shares were acquired at an average price of $179.60 per share, for a total transaction of $179,600.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at approximately $538,800. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director David B. Dillon bought 1,200 shares of 3M stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average price of $169.50 per share, for a total transaction of $203,400.00. Following the acquisition, the director now directly owns 1,200 shares in the company, valued at approximately $203,400. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,200 shares of company stock worth $559,260 in the last 90 days. Company insiders own 0.83% of the company’s stock.

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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