Delaney Dennis R decreased its stake in shares of 3M Co (NYSE:MMM) by 6.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,840 shares of the conglomerate’s stock after selling 790 shares during the quarter. 3M comprises approximately 2.5% of Delaney Dennis R’s investment portfolio, making the stock its 18th largest holding. Delaney Dennis R’s holdings in 3M were worth $1,912,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in MMM. Private Vista LLC boosted its holdings in 3M by 5.1% during the 3rd quarter. Private Vista LLC now owns 1,227 shares of the conglomerate’s stock worth $202,000 after acquiring an additional 60 shares during the last quarter. Boston Advisors LLC boosted its holdings in 3M by 0.7% during the 3rd quarter. Boston Advisors LLC now owns 9,250 shares of the conglomerate’s stock worth $1,521,000 after acquiring an additional 60 shares during the last quarter. West Coast Financial LLC boosted its holdings in 3M by 0.3% during the 3rd quarter. West Coast Financial LLC now owns 19,416 shares of the conglomerate’s stock worth $3,192,000 after acquiring an additional 64 shares during the last quarter. KLCM Advisors Inc. boosted its holdings in 3M by 3.1% during the 3rd quarter. KLCM Advisors Inc. now owns 2,145 shares of the conglomerate’s stock worth $353,000 after acquiring an additional 64 shares during the last quarter. Finally, Advisors Management Group Inc. ADV boosted its holdings in 3M by 2.4% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,776 shares of the conglomerate’s stock worth $481,000 after acquiring an additional 65 shares during the last quarter. 66.53% of the stock is owned by institutional investors.
A number of research firms have issued reports on MMM. Morgan Stanley cut their price objective on shares of 3M from $177.00 to $173.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating and set a $179.00 price objective on the stock in a report on Tuesday, December 10th. UBS Group downgraded shares of 3M from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $180.00 to $160.00 in a report on Thursday, December 12th. Deutsche Bank lifted their price objective on shares of 3M from $160.00 to $176.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Wolfe Research raised shares of 3M from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. 3M presently has a consensus rating of “Hold” and an average target price of $174.08.
In other news, SVP Ty R. Silberhorn sold 1,634 shares of 3M stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $170.72, for a total transaction of $278,956.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Julie L. Bushman sold 6,879 shares of 3M stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $165.09, for a total value of $1,135,654.11. Insiders have sold a total of 13,216 shares of company stock worth $2,233,940 over the last quarter. Company insiders own 0.83% of the company’s stock.
NYSE MMM opened at $179.78 on Thursday. The stock has a market capitalization of $104.30 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.99 and a beta of 1.10. 3M Co has a one year low of $150.58 and a one year high of $219.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The business’s fifty day moving average is $174.13 and its 200-day moving average is $168.47.
3M (NYSE:MMM) last released its earnings results on Thursday, October 24th. The conglomerate reported $2.58 EPS for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.09. The company had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $8.20 billion. 3M had a return on equity of 54.02% and a net margin of 15.48%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.58 EPS. Research analysts expect that 3M Co will post 9.04 EPS for the current fiscal year.
3M Company 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.
Featured Article: What is the Coverage Ratio?
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.