Quadrant Capital Group LLC Sells 692 Shares of 3M Co (NYSE:MMM)

Quadrant Capital Group LLC reduced its holdings in shares of 3M Co (NYSE:MMM) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,844 shares of the conglomerate’s stock after selling 692 shares during the period. Quadrant Capital Group LLC’s holdings in 3M were worth $1,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MMM. Mn Services Vermogensbeheer B.V. grew its holdings in shares of 3M by 243.2% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 326,450 shares of the conglomerate’s stock valued at $54,413,000 after acquiring an additional 231,330 shares in the last quarter. Freestone Capital Holdings LLC grew its holdings in shares of 3M by 65.5% during the 4th quarter. Freestone Capital Holdings LLC now owns 2,463 shares of the conglomerate’s stock valued at $469,000 after acquiring an additional 975 shares in the last quarter. Riverview Trust Co purchased a new position in shares of 3M during the 4th quarter valued at $473,000. Weatherly Asset Management L. P. grew its holdings in shares of 3M by 2.5% during the 4th quarter. Weatherly Asset Management L. P. now owns 13,673 shares of the conglomerate’s stock valued at $2,605,000 after acquiring an additional 327 shares in the last quarter. Finally, Exeter Financial LLC grew its holdings in shares of 3M by 2.7% during the 4th quarter. Exeter Financial LLC now owns 15,160 shares of the conglomerate’s stock valued at $2,889,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 66.84% of the company’s stock.

Several equities research analysts recently issued reports on MMM shares. Morgan Stanley lifted their price objective on shares of 3M from $172.00 to $177.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Barclays reaffirmed a “sell” rating and issued a $162.00 price objective on shares of 3M in a research note on Thursday, June 6th. Deutsche Bank reduced their price objective on shares of 3M from $188.00 to $183.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Royal Bank of Canada set a $179.00 price objective on shares of 3M and gave the company a “hold” rating in a research note on Friday, July 26th. Finally, Credit Suisse Group lifted their price objective on shares of 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. 3M has a consensus rating of “Hold” and an average price target of $182.77.

Shares of MMM stock traded down $2.81 on Friday, hitting $170.55. The company’s stock had a trading volume of 2,422,970 shares, compared to its average volume of 2,887,344. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34. 3M Co has a fifty-two week low of $159.32 and a fifty-two week high of $219.75. The firm’s fifty day moving average price is $172.71. The firm has a market cap of $100.51 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.84 and a beta of 1.09.

3M (NYSE:MMM) last released its earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.04 by $0.16. The firm had revenue of $8.17 billion during 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 revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 EPS. As a group, equities analysts predict that 3M Co will post 9.35 EPS for the current fiscal year.

In other news, Director Gregory R. Page bought 1,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average price of $179.60 per share, with a total value of $179,600.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $538,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Joaquin Delgado sold 5,400 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $169.68, for a total transaction of $916,272.00. Following the transaction, the insider now directly owns 28,092 shares of the company’s stock, valued at approximately $4,766,650.56. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,200 shares of company stock valued at $559,260. 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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