Moller Financial Services decreased its position in 3M Co (NYSE:MMM) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,689 shares of the conglomerate’s stock after selling 112 shares during the period. Moller Financial Services’ holdings in 3M were worth $298,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of 3M by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 49,688,700 shares of the conglomerate’s stock valued at $8,613,040,000 after purchasing an additional 407,636 shares during the period. BlackRock Inc. boosted its position in 3M by 1.2% in the 2nd quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock valued at $6,783,640,000 after buying an additional 472,084 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in 3M by 1.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,025,635 shares of the conglomerate’s stock valued at $1,812,615,000 after buying an additional 207,380 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of 3M by 1,337.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,830,790 shares of the conglomerate’s stock valued at $490,689,000 after purchasing an additional 2,633,848 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of 3M by 5.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,145,026 shares of the conglomerate’s stock valued at $371,819,000 after purchasing an additional 111,373 shares during the period. 66.53% of the stock is owned by hedge funds and other institutional investors.
Shares of 3M stock opened at $180.47 on Monday. The stock has a market cap of $103.78 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 1.97 and a beta of 1.10. The company has a quick ratio of 1.79, a current ratio of 2.30 and a debt-to-equity ratio of 1.68. 3M Co has a twelve month low of $150.58 and a twelve month high of $219.75. The company’s fifty day moving average is $172.89 and its 200 day moving average is $168.27.
3M (NYSE:MMM) last released its earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.09. 3M had a net margin of 15.48% and a return on equity of 54.02%. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same quarter in the previous year, the business earned $2.58 earnings per share. 3M’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities analysts anticipate that 3M Co will post 9.05 earnings per share for the current fiscal year.
In related news, SVP Eric D. Hammes sold 1,341 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $174.25, for a total value of $233,669.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Khandpur K. Ashish sold 3,362 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $174.20, for a total transaction of $585,660.40. The disclosure for this sale can be found here. Insiders have sold 13,216 shares of company stock worth $2,233,940 in the last quarter. Company insiders own 0.83% of the company’s stock.
Several brokerages recently commented on MMM. UBS Group downgraded 3M from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $180.00 to $160.00 in a research note on Thursday, December 12th. Morgan Stanley decreased their price objective on 3M from $177.00 to $173.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. Citigroup cut 3M from a “buy” rating to a “neutral” rating and set a $180.00 price target for the company. in a report on Monday, December 9th. Wolfe Research upgraded 3M from an “underperform” rating to a “peer perform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of 3M from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $143.00 to $150.00 in a research report on Monday, December 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. 3M has a consensus rating of “Hold” and a consensus price target of $174.08.
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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