3M Company (MMM) Stake Increased by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. raised its stake in 3M Company (NYSE:MMM) by 2.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 13,802 shares of the conglomerate’s stock after buying an additional 310 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in 3M were worth $2,641,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the company. Howard Capital Management boosted its stake in 3M by 1.4% in the first quarter. Howard Capital Management now owns 6,577 shares of the conglomerate’s stock valued at $1,258,000 after buying an additional 90 shares during the last quarter. Arvest Bank Trust Division boosted its stake in 3M by 11.6% in the first quarter. Arvest Bank Trust Division now owns 2,340 shares of the conglomerate’s stock valued at $448,000 after buying an additional 244 shares during the last quarter. Loeb Partners Corp boosted its stake in 3M by 138.9% in the first quarter. Loeb Partners Corp now owns 8,600 shares of the conglomerate’s stock valued at $1,646,000 after buying an additional 5,000 shares during the last quarter. Pekin Singer Strauss Asset Management IL boosted its stake in 3M by 16.1% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,068 shares of the conglomerate’s stock valued at $369,000 after buying an additional 287 shares during the last quarter. Finally, West Oak Capital LLC boosted its stake in 3M by 100.6% in the first quarter. West Oak Capital LLC now owns 2,758 shares of the conglomerate’s stock valued at $528,000 after buying an additional 1,383 shares during the last quarter. 65.78% of the stock is currently owned by institutional investors.

3M Company (NYSE MMM) opened at 200.05 on Friday. The company’s 50 day moving average is $209.61 and its 200-day moving average is $194.40. The stock has a market cap of $119.48 billion, a PE ratio of 24.19 and a beta of 1.09. 3M Company has a 1-year low of $163.85 and a 1-year high of $214.57.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01. The firm had revenue of $7.81 billion for the quarter, compared to analyst estimates of $7.86 billion. 3M had a net margin of 17.65% and a return on equity of 47.83%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. Equities research analysts forecast that 3M Company will post $8.93 earnings per share for the current fiscal year.

Several analysts have commented on MMM shares. Stifel Nicolaus raised their price objective on shares of 3M from $190.00 to $202.00 and gave the stock a “hold” rating in a report on Wednesday, April 26th. Vetr upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $183.19 price objective for the company in a report on Friday, April 14th. Morgan Stanley restated an “underweight” rating and issued a $191.00 price objective (down from $193.00) on shares of 3M in a report on Monday, July 10th. Credit Suisse Group reiterated a “buy” rating on shares of 3M in a report on Thursday, April 27th. Finally, Jefferies Group LLC lifted their target price on shares of 3M from $210.00 to $219.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. 3M has an average rating of “Hold” and a consensus price target of $203.40.

In related news, VP Marlene Mary Mcgrath sold 14,766 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the sale, the vice president now owns 24,480 shares in the company, valued at $4,770,662.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider James L. Bauman sold 14,616 shares of the firm’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $195.81, for a total transaction of $2,861,958.96. Following the sale, the insider now owns 16,458 shares in the company, valued at approximately $3,222,640.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,698 shares of company stock worth $6,593,443. 0.58% of the stock is owned by company insiders.

About 3M

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.