Tiaa Fsb lowered its stake in shares of 3M Co (NYSE:MMM) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,660 shares of the conglomerate’s stock after selling 4,468 shares during the quarter. Tiaa Fsb’s holdings in 3M were worth $16,638,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MMM. Tsfg LLC boosted its stake in 3M by 52.7% during the first quarter. Tsfg LLC now owns 200 shares of the conglomerate’s stock worth $27,000 after buying an additional 69 shares in the last quarter. PARK CIRCLE Co acquired a new stake in shares of 3M in the 1st quarter valued at $27,000. Cascade Investment Advisors Inc. acquired a new stake in shares of 3M in the 1st quarter valued at $28,000. Stonebridge Financial Planning Group LLC boosted its stake in shares of 3M by 211.3% in the 1st quarter. Stonebridge Financial Planning Group LLC now owns 221 shares of the conglomerate’s stock valued at $33,000 after purchasing an additional 150 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of 3M in the 4th quarter valued at $36,000. Hedge funds and other institutional investors own 65.67% of the company’s stock.
Shares of NYSE:MMM opened at $158.54 on Thursday. The stock has a market capitalization of $91.19 billion, a P/E ratio of 17.83, a P/E/G ratio of 2.11 and a beta of 0.99. 3M Co has a 1-year low of $114.04 and a 1-year high of $187.72. The company has a current ratio of 1.65, a quick ratio of 1.19 and a debt-to-equity ratio of 1.94. The business has a 50-day moving average price of $157.31 and a two-hundred day moving average price of $155.13.
3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 28th. The conglomerate reported $2.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.13. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.86 billion. 3M had a return on equity of 50.24% and a net margin of 15.37%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.23 EPS. As a group, equities analysts predict that 3M Co will post 7.91 EPS for the current year.
Several brokerages have recently commented on MMM. Morgan Stanley boosted their target price on shares of 3M from $131.00 to $160.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Credit Suisse Group upped their price target on shares of 3M from $165.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $133.00 price target on the stock in a research report on Thursday, April 30th. Goldman Sachs Group reduced their price target on shares of 3M from $172.00 to $159.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Finally, Citigroup upped their price target on shares of 3M from $146.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $162.00.
In other news, EVP Khandpur K. Ashish sold 3,605 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $146.85, for a total value of $529,394.25. Following the completion of the sale, the executive vice president now directly owns 19,193 shares of the company’s stock, valued at approximately $2,818,492.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Roman sold 7,894 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $148.70, for a total value of $1,173,837.80. Following the completion of the sale, the chief executive officer now directly owns 57,868 shares of the company’s stock, valued at $8,604,971.60. The disclosure for this sale can be found here. Insiders have sold a total of 40,184 shares of company stock valued at $5,930,874 over the last three months. Company insiders own 0.42% of the company’s stock.
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.
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