Vigilant Capital Management LLC decreased its position in 3M Co (NYSE:MMM) by 9.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 9,185 shares of the conglomerate’s stock after selling 946 shares during the period. Vigilant Capital Management LLC’s holdings in 3M were worth $1,935,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Parnassus Investments CA purchased a new position in shares of 3M during the 2nd quarter worth approximately $706,178,000. Fundsmith Equity Fund L.P. purchased a new position in shares of 3M during the 2nd quarter worth approximately $668,488,000. Charles Schwab Investment Advisory Inc. purchased a new position in shares of 3M during the 2nd quarter worth approximately $213,286,000. Cornerstone Wealth Management LLC boosted its position in shares of 3M by 21,835.8% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 831,148 shares of the conglomerate’s stock worth $4,251,000 after purchasing an additional 827,359 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of 3M by 8.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,727,135 shares of the conglomerate’s stock worth $1,323,362,000 after purchasing an additional 537,325 shares during the period. 66.98% of the stock is owned by institutional investors and hedge funds.

In other news, insider Jon T. Lindekugel sold 6,410 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $203.01, for a total value of $1,301,294.10. The sale was disclosed in a document filed 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 transaction 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. 0.72% of the stock is currently owned by company insiders.

A number of equities analysts recently weighed in on MMM shares. ValuEngine cut shares of 3M from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. MED cut shares of 3M from a “buy” rating to a “hold” rating and set a $208.00 price objective for the company. in a research report on Thursday, July 12th. Deutsche Bank reissued a “hold” rating and issued a $208.00 price target on shares of 3M in a research report on Thursday, July 12th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $234.00 price target on shares of 3M in a research report on Wednesday, July 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $233.79.

Shares of MMM stock opened at $198.23 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.56 and a quick ratio of 1.08. 3M Co has a 52 week low of $190.57 and a 52 week high of $259.77. The company has a market capitalization of $123.61 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.02 and a beta of 1.15.

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

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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