ZWJ Investment Counsel Inc. Purchases 250 Shares of 3M Co (NYSE:MMM)

ZWJ Investment Counsel Inc. grew its position in 3M Co (NYSE:MMM) by 1.6% during the third quarter, HoldingsChannel reports. The firm owned 15,486 shares of the conglomerate’s stock after buying an additional 250 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in 3M were worth $2,546,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Kempen Capital Management N.V. bought a new position in shares of 3M in the second quarter valued at approximately $25,000. Atwater Malick LLC bought a new position in shares of 3M in the third quarter valued at approximately $30,000. Arcus Capital Partners LLC bought a new position in shares of 3M in the second quarter valued at approximately $35,000. SRS Capital Advisors Inc. bought a new position in shares of 3M in the second quarter valued at approximately $37,000. Finally, Westside Investment Management Inc. bought a new position in shares of 3M in the second quarter valued at approximately $44,000. 66.78% of the stock is currently owned by institutional investors.

In other 3M 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 sale, the insider now owns 5,974 shares in the company, valued at $1,017,969.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.83% of the stock is owned by insiders.

MMM stock traded down $0.05 on Wednesday, reaching $167.49. 201,592 shares of the company were exchanged, compared to its average volume of 2,891,741. 3M Co has a 12 month low of $150.58 and a 12 month high of $219.75. The stock’s fifty day moving average price is $162.68 and its 200 day moving average price is $173.13. The firm has a market capitalization of $95.46 billion, a PE ratio of 15.99, a PEG ratio of 1.90 and a beta of 1.11. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34.

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

MMM has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of 3M from $162.00 to $158.00 and set an “underweight” rating on the stock in a research report on Thursday, October 3rd. UBS Group dropped their target price on shares of 3M from $201.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Credit Suisse Group boosted their target price on shares of 3M from $180.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their target price on shares of 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a research report on Thursday, October 10th. Finally, Bank of America dropped their target price on shares of 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $179.54.

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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