3M Co (MMM) Shares Sold by Capital Insight Partners LLC

Capital Insight Partners LLC lessened its stake in shares of 3M Co (NYSE:MMM) by 12.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,209 shares of the conglomerate’s stock after selling 1,304 shares during the quarter. 3M comprises about 1.7% of Capital Insight Partners LLC’s investment portfolio, making the stock its 23rd biggest holding. Capital Insight Partners LLC’s holdings in 3M were worth $2,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MMM. Covenant Asset Management LLC grew its position in 3M by 6.5% in the fourth quarter. Covenant Asset Management LLC now owns 5,555 shares of the conglomerate’s stock worth $1,307,000 after buying an additional 341 shares during the last quarter. Appleton Partners Inc. MA grew its position in 3M by 4.2% in the fourth quarter. Appleton Partners Inc. MA now owns 16,311 shares of the conglomerate’s stock worth $3,839,000 after buying an additional 657 shares during the last quarter. Hikari Power Ltd grew its position in 3M by 1.7% in the fourth quarter. Hikari Power Ltd now owns 114,580 shares of the conglomerate’s stock worth $26,969,000 after buying an additional 1,880 shares during the last quarter. CHURCHILL MANAGEMENT Corp grew its position in 3M by 27.3% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 8,158 shares of the conglomerate’s stock worth $1,920,000 after buying an additional 1,748 shares during the last quarter. Finally, Sawyer & Company Inc acquired a new position in 3M in the fourth quarter worth approximately $138,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Several research analysts have issued reports on MMM shares. Citigroup restated a “buy” rating and issued a $250.00 price target (up previously from $228.00) on shares of 3M in a research report on Monday, October 9th. Argus lifted their price target on shares of 3M from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $248.00 price target on the stock in a research report on Wednesday, October 25th. Bank of America lifted their price target 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. Finally, Jefferies Group lifted their price target on shares of 3M to $262.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Three research 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. The stock currently has an average rating of “Hold” and an average price target of $232.15.

In other 3M news, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction on Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ivan K. Fong sold 2,348 shares of 3M stock in a transaction on Friday, October 27th. The shares were sold at an average price of $233.12, for a total transaction of $547,365.76. Following the sale, the vice president now directly owns 24,479 shares of the company’s stock, valued at approximately $5,706,544.48. The disclosure for this sale can be found here. Insiders sold a total of 22,804 shares of company stock valued at $5,303,706 in the last ninety days. Company insiders own 0.58% of the company’s stock.

3M Co (MMM) opened at $244.47 on Friday. 3M Co has a 52 week low of $173.55 and a 52 week 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. The company has a market cap of $145,610.00, a P/E ratio of 27.28, a P/E/G ratio of 2.41 and a beta of 1.10.

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