3M (NYSE:MMM) Position Lowered by First Manhattan CO. LLC.

First Manhattan CO. LLC. lowered its position in shares of 3M (NYSE:MMM) by 6.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,199 shares of the conglomerate’s stock after selling 2,102 shares during the quarter. First Manhattan CO. LLC.’s holdings in 3M were worth $4,157,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MMM. Principal Financial Group Inc. grew its holdings in shares of 3M by 15.3% during the third quarter. Principal Financial Group Inc. now owns 737,075 shares of the conglomerate’s stock valued at $100,758,000 after purchasing an additional 97,741 shares during the last quarter. ORG Partners LLC increased its position in 3M by 44.1% in the fourth quarter. ORG Partners LLC now owns 320 shares of the conglomerate’s stock worth $41,000 after buying an additional 98 shares during the period. Czech National Bank lifted its stake in 3M by 5.5% in the fourth quarter. Czech National Bank now owns 118,072 shares of the conglomerate’s stock valued at $15,242,000 after buying an additional 6,163 shares during the last quarter. Aprio Wealth Management LLC boosted its holdings in shares of 3M by 19.1% during the fourth quarter. Aprio Wealth Management LLC now owns 3,195 shares of the conglomerate’s stock valued at $412,000 after acquiring an additional 513 shares during the period. Finally, Matrix Trust Co grew its position in shares of 3M by 602.9% during the fourth quarter. Matrix Trust Co now owns 738 shares of the conglomerate’s stock worth $95,000 after acquiring an additional 633 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.

3M Trading Up 0.8 %

3M stock opened at $142.25 on Friday. The firm has a market cap of $76.56 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.08 and a current ratio of 1.41. The firm’s 50 day moving average price is $141.31 and its two-hundred day moving average price is $138.61. 3M has a 1 year low of $96.76 and a 1 year high of $156.35.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 22nd. The conglomerate reported $1.88 EPS for the quarter, beating the consensus estimate of $1.77 by $0.11. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.78 billion. 3M had a return on equity of 100.77% and a net margin of 15.71%. On average, research analysts predict that 3M will post 7.8 EPS for the current fiscal year.

Analysts Set New Price Targets

MMM has been the topic of several recent research reports. Barclays lifted their price objective on shares of 3M from $160.00 to $164.00 and gave the company an “overweight” rating in a research report on Wednesday, April 23rd. Royal Bank of Canada boosted their price objective on 3M from $98.00 to $100.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of 3M in a research report on Saturday. Bank of America increased their price target on 3M from $175.00 to $179.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. Finally, Wells Fargo & Company upgraded shares of 3M from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $170.00 in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.29.

3M Company Profile

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.