Bremer Trust National Association trimmed its stake in shares of 3M Co (NYSE:MMM) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 36,359 shares of the conglomerate’s stock after selling 798 shares during the quarter. 3M makes up about 2.3% of Bremer Trust National Association’s investment portfolio, making the stock its 4th largest position. Bremer Trust National Association’s holdings in 3M were worth $8,557,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of MMM. MPS Loria Financial Planners LLC acquired a new stake in 3M during the second quarter worth about $124,000. Hoertkorn Richard Charles acquired a new stake in 3M during the third quarter worth about $126,000. Sawyer & Company Inc acquired a new stake in 3M during the fourth quarter worth about $138,000. Harfst & Associates Inc. grew its holdings in 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 period. Finally, Mascoma Wealth Management LLC grew its holdings in 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 period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on MMM shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $209.00 target price on shares of 3M in a report on Friday, September 15th. JPMorgan Chase & Co. downgraded 3M from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $185.00 to $201.00 in a research report on Wednesday, September 20th. Morgan Stanley increased their price target on 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Citigroup reiterated a “buy” rating and set a $250.00 price target (up previously from $228.00) on shares of 3M in a research report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. 3M presently has an average rating of “Hold” and an average target price of $232.15.
3M Co (NYSE MMM) opened at $244.47 on Friday. The firm has a market capitalization of $144,321.81, a P/E ratio of 27.32, a PEG ratio of 2.41 and a beta of 1.10. 3M Co has a 1 year low of $173.55 and a 1 year high of $246.00. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47.
3M (NYSE:MMM) last released its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.15 earnings per share. sell-side analysts expect that 3M Co will post 9.1 EPS for the current year.
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.
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