Acadian Asset Management LLC lessened its stake in 3M Co (NYSE:MMM) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 451,380 shares of the conglomerate’s stock after selling 32,531 shares during the quarter. Acadian Asset Management LLC’s holdings in 3M were worth $106,238,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MMM. Schwab Charles Investment Management Inc. grew its position in 3M by 4.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock valued at $746,391,000 after acquiring an additional 142,799 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in 3M by 4.9% in the second quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock valued at $399,069,000 after acquiring an additional 89,307 shares during the last quarter. New York State Common Retirement Fund grew its position in 3M by 0.5% in the third quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock valued at $356,877,000 after acquiring an additional 8,500 shares during the last quarter. Rhumbline Advisers grew its position in 3M by 0.9% in the third quarter. Rhumbline Advisers now owns 1,124,531 shares of the conglomerate’s stock valued at $236,039,000 after acquiring an additional 9,617 shares during the last quarter. Finally, Bank of Montreal Can grew its position in 3M by 38.9% in the fourth quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock valued at $218,981,000 after acquiring an additional 260,349 shares during the last quarter. 66.23% of the stock is owned by institutional investors and hedge funds.

Shares of 3M Co (MMM) opened at $248.18 on Friday. The firm has a market capitalization of $147,820.00, a PE ratio of 27.70, a PEG ratio of 2.43 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. 3M Co has a twelve month low of $173.55 and a twelve month high of $249.00.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.15 earnings per share. research analysts anticipate that 3M Co will post 9.1 EPS for the current year.

MMM has been the topic of a number of recent analyst reports. Jefferies Group lifted their target price on 3M to $262.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Bank of America lifted their target price on 3M from $227.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $248.00 price target on the stock in a report on Wednesday, October 25th. Argus boosted their price target on 3M from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Citigroup restated a “buy” rating and set a $250.00 price target (up from $228.00) on shares of 3M in a report on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. 3M currently has a consensus rating of “Hold” and an average price target of $235.01.

In related news, VP Ivan K. Fong sold 2,348 shares of 3M stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.12, for a total value of $547,365.76. Following the transaction, the vice president now directly owns 24,479 shares of the company’s stock, valued at $5,706,544.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Khandpur K. Ashish sold 4,004 shares of 3M stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total value of $926,485.56. Following the completion of the transaction, the vice president now directly owns 5,236 shares in the company, valued at $1,211,558.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is owned by insiders.

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3M Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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