Xact Kapitalforvaltning AB reduced its stake in 3M Co (NYSE:MMM) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,967 shares of the conglomerate’s stock after selling 4,058 shares during the period. 3M accounts for approximately 1.1% of Xact Kapitalforvaltning AB’s holdings, making the stock its 22nd largest holding. Xact Kapitalforvaltning AB’s holdings in 3M were worth $22,328,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Holderness Investments Co. raised its stake in 3M by 7.3% during the 2nd quarter. Holderness Investments Co. now owns 4,350 shares of the conglomerate’s stock worth $856,000 after buying an additional 295 shares during the period. Fundsmith Equity Fund L.P. acquired a new stake in 3M during the 2nd quarter worth $668,488,000. State Treasurer State of Michigan raised its stake in 3M by 0.3% during the 2nd 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 during the period. CWH Capital Management Inc. acquired a new stake in 3M during the 2nd quarter worth $220,000. Finally, Boulegeris Investments Inc. raised its stake in 3M by 28.8% during the 2nd 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 during the period. Institutional investors and hedge funds own 67.17% of the company’s stock.

In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of 3M stock in a transaction dated 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 filing with the SEC, which is accessible through this link. Also, insider Eric D. Hammes sold 1,272 shares of 3M stock in a transaction dated 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 directly owns 5,634 shares in the company, valued at approximately $1,216,944. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Several brokerages recently commented on MMM. ValuEngine raised 3M from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Deutsche Bank reaffirmed a “hold” rating and set a $208.00 price objective on shares of 3M in a research note on Thursday, July 12th. Barclays dropped their price objective on 3M from $210.00 to $201.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 25th. MED downgraded 3M from a “buy” rating to a “hold” rating and set a $208.00 price objective on the stock. in a research note on Thursday, July 12th. Finally, Gordon Haskett began coverage on 3M in a research note on Friday, October 12th. They set a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. 3M currently has an average rating of “Hold” and an average target price of $233.79.

MMM opened at $201.36 on Tuesday. 3M Co has a 1 year low of $190.57 and a 1 year high of $259.77. The stock has a market capitalization of $117.23 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.91 and a beta of 1.15. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.56.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $8.36 billion. During the same quarter last year, the business posted $2.58 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts expect that 3M Co will post 10.27 EPS for the current fiscal year.

About 3M

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.

Further Reading: Can individual investors take part in an IPO?

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

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