Sawyer & Company Inc Takes Position in 3M Co (MMM)

Sawyer & Company Inc purchased a new position in 3M Co (NYSE:MMM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 585 shares of the conglomerate’s stock, valued at approximately $138,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MMM. MPS Loria Financial Planners LLC bought a new position in shares of 3M during the second quarter worth $124,000. Hoertkorn Richard Charles bought a new position in shares of 3M during the third quarter worth $126,000. Harfst & Associates Inc. boosted its position in shares of 3M by 17.0% during the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock worth $143,000 after acquiring an additional 100 shares during the last quarter. Mascoma Wealth Management LLC boosted its position in shares of 3M by 87.5% during the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after acquiring an additional 350 shares during the last quarter. Finally, Seizert Capital Partners LLC bought a new position in shares of 3M during the second quarter worth $210,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

In related news, insider Jon T. Lindekugel sold 400 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total transaction of $92,024.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Nicholas C. Gangestad sold 4,004 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $233.84, for a total transaction of $936,295.36. Following the sale, the chief financial officer now directly owns 25,805 shares in the company, valued at approximately $6,034,241.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is owned by insiders.

A number of equities analysts recently weighed in on MMM shares. Bank of America upped their target price on shares of 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Argus restated a “buy” rating on shares of 3M in a research report on Friday, December 22nd. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Credit Suisse Group restated an “outperform” rating and set a $237.00 target price (up previously from $229.00) on shares of 3M in a research report on Wednesday, October 11th. Finally, JPMorgan Chase & Co. lowered shares of 3M from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $185.00 to $201.00 in a research report on Wednesday, September 20th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. 3M has an average rating of “Hold” and an average target price of $232.15.

Shares of 3M Co (MMM) opened at $242.31 on Friday. The stock has a market cap of $144,320.00, a price-to-earnings ratio of 27.04, a P/E/G ratio of 2.39 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. 3M Co has a 12 month low of $173.55 and a 12 month high of $244.23.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. 3M’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.15 earnings per share. equities analysts forecast that 3M Co will post 9.09 EPS for the current year.

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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, , 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.

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

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