Advisors Capital Management LLC acquired a new stake in 3M Co (NYSE:MMM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 976 shares of the conglomerate’s stock, valued at approximately $206,000.

Other large investors have also recently modified their holdings of the company. Allianz Life Insurance Co of North America acquired a new stake in 3M in the first quarter valued at approximately $239,000. Holderness Investments Co. grew its position in shares of 3M by 7.3% during the second quarter. Holderness Investments Co. now owns 4,350 shares of the conglomerate’s stock worth $856,000 after buying an additional 295 shares in the last quarter. State Treasurer State of Michigan grew its position in shares of 3M by 0.3% during the second quarter. State Treasurer State of Michigan now owns 175,776 shares of the conglomerate’s stock worth $34,579,000 after buying an additional 500 shares in the last quarter. Boulegeris Investments Inc. grew its position in shares of 3M by 28.8% during the second quarter. Boulegeris Investments Inc. now owns 6,526 shares of the conglomerate’s stock worth $1,284,000 after buying an additional 1,461 shares in the last quarter. Finally, Burney Co. grew its position in shares of 3M by 7.5% during the second quarter. Burney Co. now owns 102,426 shares of the conglomerate’s stock worth $20,149,000 after buying an additional 7,105 shares in the last quarter. 66.98% of the stock is owned by institutional investors.

Shares of MMM opened at $198.23 on Friday. 3M Co has a 12-month low of $190.57 and a 12-month high of $259.77. The firm has a market cap of $123.61 billion, a P/E ratio of 21.60, a PEG ratio of 2.02 and a beta of 1.15. The company has a current ratio of 1.56, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.58 by $0.01. 3M had a return on equity of 51.31% and a net margin of 13.44%. The firm had revenue of $8.39 billion for the quarter, compared to analysts’ expectations of $8.36 billion. During the same period last year, the business posted $2.58 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, analysts predict that 3M Co will post 10.28 EPS for the current fiscal year.

A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. ValuEngine downgraded shares of 3M from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Barclays decreased their price target on shares of 3M from $210.00 to $201.00 and set an “underweight” rating for the company in a research report on Wednesday, July 25th. Deutsche Bank raised their price target on shares of 3M from $210.00 to $220.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. Finally, Gordon Haskett assumed coverage on shares of 3M in a research report on Friday. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. 3M has a consensus rating of “Hold” and a consensus price target of $233.79.

In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $203.01, for a total value of $1,301,294.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric D. Hammes sold 1,272 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $216.00, for a total value of $274,752.00. Following the completion of the sale, the insider now owns 5,634 shares in the company, valued at $1,216,944. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

3M Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and 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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