Claybrook Capital LLC Increases Stake in 3M Co (MMM)

Claybrook Capital LLC grew its holdings in 3M Co (NYSE:MMM) by 762.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,449 shares of the conglomerate’s stock after buying an additional 3,049 shares during the quarter. Claybrook Capital LLC’s holdings in 3M were worth $657,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in 3M by 17,350.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 26,742,875 shares during the period. BlackRock Inc. increased its position in 3M by 3.0% in the fourth quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock worth $7,435,433,000 after purchasing an additional 1,152,714 shares during the period. Rehmann Capital Advisory Group increased its position in 3M by 14,237.6% in the third quarter. Rehmann Capital Advisory Group now owns 939,688 shares of the conglomerate’s stock worth $8,941,033,000 after purchasing an additional 933,134 shares during the period. Bessemer Group Inc. increased its position in 3M by 2,768.8% in the fourth quarter. Bessemer Group Inc. now owns 578,657 shares of the conglomerate’s stock worth $110,258,000 after purchasing an additional 558,486 shares during the period. Finally, Morgan Stanley increased its position in 3M by 11.9% in the third quarter. Morgan Stanley now owns 4,042,904 shares of the conglomerate’s stock worth $851,879,000 after purchasing an additional 430,262 shares during the period. Institutional investors own 67.20% of the company’s stock.

In other 3M news, insider Paul A. Keel sold 9,410 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $199.14, for a total transaction of $1,873,907.40. Following the transaction, the insider now owns 23,009 shares in the company, valued at $4,582,012.26. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Inge G. Thulin sold 5,863 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $207.78, for a total value of $1,218,214.14. Following the transaction, the chairman now owns 268,188 shares in the company, valued at approximately $55,724,102.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,414 shares of company stock worth $15,553,682. Company insiders own 0.83% of the company’s stock.

Shares of MMM opened at $216.90 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.29 and a debt-to-equity ratio of 1.36. 3M Co has a 1 year low of $176.87 and a 1 year high of $221.69. The stock has a market cap of $124.43 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.03 and a beta of 1.05.

3M (NYSE:MMM) last issued its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.28 by $0.03. 3M had a return on equity of 57.70% and a net margin of 16.33%. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $7.87 billion. During the same quarter last year, the business earned $2.10 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts predict that 3M Co will post 10.51 earnings per share for the current year.

A number of analysts recently commented on the company. Barclays lowered their price objective on 3M from $189.00 to $188.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. lowered their price objective on 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a research report on Friday, March 29th. Morgan Stanley lowered their price objective on 3M from $201.00 to $199.00 and set an “equal weight” rating for the company in a research report on Friday, March 22nd. Finally, reiterated a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $205.50.

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3M Company Profile

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

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