Sawtooth Solutions LLC reduced its position in 3M Company (NYSE:MMM) by 57.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,509 shares of the conglomerate’s stock after selling 3,409 shares during the period. Sawtooth Solutions LLC’s holdings in 3M were worth $480,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. Triangle Securities Wealth Management increased its stake in shares of 3M by 12.3% in the first quarter. Triangle Securities Wealth Management now owns 4,730 shares of the conglomerate’s stock worth $905,000 after buying an additional 517 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in shares of 3M by 1.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 704,801 shares of the conglomerate’s stock worth $134,849,000 after buying an additional 10,457 shares in the last quarter. Pioneer Trust Bank N A OR increased its stake in shares of 3M by 8.2% in the first quarter. Pioneer Trust Bank N A OR now owns 2,278 shares of the conglomerate’s stock worth $436,000 after buying an additional 172 shares in the last quarter. Peachtree Investment Advisors Inc. increased its stake in shares of 3M by 2.3% in the first quarter. Peachtree Investment Advisors Inc. now owns 2,240 shares of the conglomerate’s stock worth $429,000 after buying an additional 50 shares in the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of 3M by 4.2% in the first quarter. Confluence Investment Management LLC now owns 481,445 shares of the conglomerate’s stock worth $92,115,000 after buying an additional 19,587 shares in the last quarter. 65.76% of the stock is owned by institutional investors.
Shares of 3M Company (MMM) opened at 207.62 on Friday. The stock has a market cap of $123.90 billion, a P/E ratio of 23.68 and a beta of 1.08. 3M Company has a 12 month low of $163.85 and a 12 month high of $214.57. The stock has a 50 day moving average price of $209.15 and a 200 day moving average price of $195.17.
3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.59 by $0.01. 3M had a return on equity of 47.83% and a net margin of 17.65%. The firm had revenue of $7.81 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. 3M’s revenue was up 1.9% on a year-over-year basis. Equities analysts anticipate that 3M Company will post $8.94 EPS for the current fiscal year.
MMM has been the subject of a number of recent analyst reports. Vetr raised 3M from a “sell” rating to a “hold” rating and set a $183.19 price objective for the company in a research report on Friday, April 14th. Barclays PLC reaffirmed an “overweight” rating and issued a $201.00 price objective (up previously from $200.00) on shares of 3M in a research report on Wednesday, April 19th. Jefferies Group LLC lifted their price objective on 3M from $210.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Stifel Nicolaus lifted their price objective on 3M from $190.00 to $202.00 and gave the company a “hold” rating in a research report on Wednesday, April 26th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of 3M in a research report on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. 3M presently has a consensus rating of “Hold” and a consensus price target of $203.40.
In other 3M news, insider James L. Bauman sold 14,616 shares of the 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 transaction, the insider now directly owns 16,458 shares of the company’s stock, valued at $3,222,640.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Marlene Mary Mcgrath sold 14,766 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the transaction, the vice president now directly owns 24,480 shares in the company, valued at $4,770,662.40. The disclosure for this sale can be found here. 0.58% of the stock is currently 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.
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