3M Co (NYSE:MMM) Shares Sold by Zeke Capital Advisors LLC

Zeke Capital Advisors LLC lessened its holdings in shares of 3M Co (NYSE:MMM) by 4.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,508 shares of the conglomerate’s stock after selling 673 shares during the quarter. Zeke Capital Advisors LLC’s holdings in 3M were worth $2,341,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MMM. Creative Financial Designs Inc. ADV grew its position in shares of 3M by 202.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 101 shares in the last quarter. Cordasco Financial Network grew its position in shares of 3M by 220.0% in the 1st quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock worth $33,000 after acquiring an additional 110 shares in the last quarter. Capital Financial Planning LLC acquired a new position in shares of 3M in the 4th quarter worth approximately $34,000. Meridian Wealth Management LLC acquired a new position in shares of 3M in the 1st quarter worth approximately $38,000. Finally, Lake Point Wealth Management acquired a new position in shares of 3M in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 66.84% of the company’s stock.

NYSE:MMM traded down $2.81 during midday trading on Friday, reaching $170.55. 2,422,970 shares of the company traded hands, compared to its average volume of 3,006,408. 3M Co has a twelve month low of $159.32 and a twelve month high of $219.75. The stock has a market capitalization of $99.73 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The company has a quick ratio of 1.34, a current ratio of 1.93 and a debt-to-equity ratio of 1.53. The firm has a fifty day moving average of $172.71.

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

Several research analysts have recently commented on MMM shares. Bank of America decreased their target price on 3M from $193.00 to $185.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. JPMorgan Chase & Co. reduced their price objective on 3M from $154.00 to $143.00 and set an “underweight” rating for the company in a research report on Friday, May 17th. Barclays restated a “sell” rating and set a $162.00 price objective on shares of 3M in a research report on Thursday, June 6th. UBS Group reduced their price objective on 3M from $201.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, 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. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $182.77.

In other 3M news, Director David B. Dillon bought 1,200 shares of the business’s stock in a transaction on Friday, May 17th. The shares were purchased at an average price of $169.50 per share, with a total value of $203,400.00. Following the purchase, the director now directly owns 1,200 shares of the company’s stock, valued at $203,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joaquin Delgado sold 5,400 shares of 3M stock in a transaction on Friday, May 17th. The shares were sold at an average price of $169.68, for a total value of $916,272.00. Following the sale, the insider now directly owns 28,092 shares in the company, valued at approximately $4,766,650.56. The disclosure for this sale can be found here. Insiders have purchased a total of 3,200 shares of company stock valued at $559,260 in the last 90 days. 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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