GRATRY & Co LLC cut its position in 3M Company (NYSE:MMM) by 8.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,295 shares of the conglomerate’s stock after selling 116 shares during the period. GRATRY & Co LLC’s holdings in 3M were worth $248,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Cable Hill Partners LLC raised its stake in 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock valued at $122,000 after buying an additional 15 shares in the last quarter. Reilly Financial Advisors LLC raised its stake in 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock valued at $123,000 after buying an additional 24 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its stake in 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after buying an additional 4 shares in the last quarter. American Research & Management Co. raised its stake in 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock valued at $179,000 after buying an additional 70 shares in the last quarter. Finally, American National Bank raised its stake in 3M by 23.2% in the first quarter. American National Bank now owns 965 shares of the conglomerate’s stock valued at $185,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 65.78% of the company’s stock.
3M Company (MMM) opened at 200.05 on Friday. The stock has a 50 day moving average of $209.61 and a 200 day moving average of $194.40. The stock has a market capitalization of $119.48 billion, a P/E 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 issued its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 EPS for the quarter, missing the Zacks’ consensus estimate of $2.59 by $0.01. The business had revenue of $7.81 billion during 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%. 3M’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. On average, analysts expect that 3M Company will post $8.93 earnings per share for the current year.
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Several research firms recently commented on MMM. Stifel Nicolaus restated a “hold” rating and set a $210.00 price target on shares of 3M in a research report on Friday. Zacks Investment Research lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup Inc. dropped their price target on shares of 3M from $230.00 to $228.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley restated an “underweight” rating and set a $190.00 price target (down previously from $191.00) on shares of 3M in a research report on Wednesday. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $209.00 price target (down previously from $210.00) on shares of 3M in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $203.40.
In related news, insider Kimberly F. Price sold 3,016 shares of the stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $198.11, for a total value of $597,499.76. Following the sale, the insider now directly owns 9,292 shares of the company’s stock, valued at approximately $1,840,838.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jon T. Lindekugel sold 1,300 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $197.22, for a total transaction of $256,386.00. Following the completion of the sale, the insider now directly owns 2,238 shares in the company, valued at $441,378.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,698 shares of company stock worth $6,593,443. 0.58% of the stock is owned by corporate insiders.
3M Company Profile
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.
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