3M Co (NYSE:MMM) Shares Acquired by Sage Capital Advisors llc

Sage Capital Advisors llc lifted its stake in 3M Co (NYSE:MMM) by 0.3% in the third quarter, HoldingsChannel.com reports. The firm owned 74,504 shares of the conglomerate’s stock after purchasing an additional 228 shares during the quarter. 3M comprises 9.2% of Sage Capital Advisors llc’s investment portfolio, making the stock its largest position. Sage Capital Advisors llc’s holdings in 3M were worth $12,249,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MMM. Nuveen Asset Management LLC increased its holdings in shares of 3M by 1,337.4% in the second quarter. Nuveen Asset Management LLC now owns 2,830,790 shares of the conglomerate’s stock valued at $490,689,000 after purchasing an additional 2,633,848 shares in the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of 3M by 17,524.1% in the second quarter. Thoroughbred Financial Services LLC now owns 1,680,806 shares of the conglomerate’s stock valued at $168,081,000 after purchasing an additional 1,671,269 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of 3M by 351.5% in the second quarter. Point72 Asset Management L.P. now owns 540,727 shares of the conglomerate’s stock valued at $93,730,000 after purchasing an additional 755,727 shares in the last quarter. BlackRock Inc. increased its holdings in shares of 3M by 1.2% in the second quarter. BlackRock Inc. now owns 39,134,895 shares of the conglomerate’s stock valued at $6,783,640,000 after purchasing an additional 472,084 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of 3M by 0.8% in the second quarter. Vanguard Group Inc. now owns 49,688,700 shares of the conglomerate’s stock valued at $8,613,040,000 after purchasing an additional 407,636 shares in the last quarter. 66.78% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on MMM. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating and set a $166.00 price target for the company. in a report on Monday. UBS Group lowered their target price on shares of 3M from $201.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Royal Bank of Canada set a $179.00 target price on shares of 3M and gave the stock a “hold” rating in a report on Friday, July 26th. Citigroup lowered their target price on shares of 3M from $197.00 to $180.00 and set a “buy” rating for the company in a report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on shares of 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Five investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $179.54.

In other news, insider John Patrick Banovetz sold 1,040 shares of 3M stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $170.40, for a total transaction of $177,216.00. Following the transaction, the insider now directly owns 5,974 shares of the company’s stock, valued at $1,017,969.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.83% of the company’s stock.

MMM traded down $0.29 during trading on Friday, reaching $163.25. 88,862 shares of the company’s stock were exchanged, compared to its average volume of 2,942,137. The company’s fifty day moving average price is $162.27 and its 200-day moving average price is $174.27. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.34 and a current ratio of 1.93. 3M Co has a fifty-two week low of $150.58 and a fifty-two week high of $219.75. The firm has a market capitalization of $93.76 billion, a PE ratio of 15.61, a P/E/G ratio of 1.87 and a beta of 1.11.

3M (NYSE:MMM) last released its earnings results on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.16. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.10 billion. 3M had a net margin of 15.27% and a return on equity of 55.05%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.59 EPS. Research analysts forecast that 3M Co will post 9.18 earnings per share for the current fiscal year.

3M 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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