3M Co (MMM) Holdings Cut by Accredited Investors Inc.

Accredited Investors Inc. cut its position in 3M Co (NYSE:MMM) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,093 shares of the conglomerate’s stock after selling 235 shares during the period. 3M makes up about 0.5% of Accredited Investors Inc.’s investment portfolio, making the stock its 24th largest holding. Accredited Investors Inc.’s holdings in 3M were worth $1,669,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Advisor Partners LLC raised its holdings in shares of 3M by 4.6% during the third quarter. Advisor Partners LLC now owns 17,127 shares of the conglomerate’s stock valued at $3,595,000 after purchasing an additional 747 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in shares of 3M by 51.7% during the third quarter. Griffin Asset Management Inc. now owns 27,576 shares of the conglomerate’s stock valued at $5,788,000 after purchasing an additional 9,394 shares during the last quarter. Aperio Group LLC raised its holdings in shares of 3M by 6.8% during the third quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock valued at $117,360,000 after purchasing an additional 35,815 shares during the last quarter. Willis Investment Counsel raised its holdings in shares of 3M by 3.2% during the third quarter. Willis Investment Counsel now owns 42,405 shares of the conglomerate’s stock valued at $8,901,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Cedar Hill Associates LLC purchased a new position in shares of 3M during the third quarter valued at approximately $378,000. 66.23% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on MMM shares. Jefferies Group boosted their price objective on shares of 3M to $262.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Bank of America boosted their price objective on shares of 3M from $227.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $248.00 price objective for the company in a report on Wednesday, October 25th. Argus boosted their price objective on shares of 3M from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Citigroup reissued a “buy” rating and set a $250.00 price objective (up from $228.00) on shares of 3M in a report on Monday, October 9th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $235.01.

In other 3M news, Chairman Inge G. Thulin sold 6,823 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $233.14, for a total value of $1,590,714.22. Following the completion of the transaction, the chairman now directly owns 196,906 shares in the company, valued at $45,906,664.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frank R. Jr. Little sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock valued at $5,303,706 over the last 90 days. 0.58% of the stock is currently owned by company insiders.

Shares of 3M Co (NYSE:MMM) opened at $245.91 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. The stock has a market cap of $146,470.00, a P/E ratio of 27.45, a P/E/G ratio of 2.44 and a beta of 1.10. 3M Co has a 12-month low of $173.55 and a 12-month high of $249.00.

3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.15 earnings per share. equities analysts predict that 3M Co will post 9.1 EPS for the current fiscal year.

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3M 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, , 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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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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