Shelter Ins Retirement Plan lowered its holdings in 3M Co (NYSE:MMM) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,300 shares of the conglomerate’s stock after selling 1,600 shares during the period. 3M comprises 2.3% of Shelter Ins Retirement Plan’s holdings, making the stock its 23rd largest position. Shelter Ins Retirement Plan’s holdings in 3M were worth $4,059,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MMM. Capital Insight Partners LLC raised its stake in shares of 3M by 0.6% during the 4th quarter. Capital Insight Partners LLC now owns 8,852 shares of the conglomerate’s stock valued at $1,687,000 after purchasing an additional 56 shares during the period. Sawyer & Company Inc raised its stake in shares of 3M by 1.6% during the 4th quarter. Sawyer & Company Inc now owns 3,790 shares of the conglomerate’s stock valued at $722,000 after purchasing an additional 60 shares during the period. Atlas Brown Inc. raised its stake in shares of 3M by 0.9% during the 4th quarter. Atlas Brown Inc. now owns 6,928 shares of the conglomerate’s stock valued at $1,320,000 after purchasing an additional 60 shares during the period. Providence Wealth Advisors LLC raised its stake in shares of 3M by 0.9% during the 4th quarter. Providence Wealth Advisors LLC now owns 6,851 shares of the conglomerate’s stock valued at $1,297,000 after purchasing an additional 61 shares during the period. Finally, Integrated Investment Consultants LLC raised its stake in shares of 3M by 2.3% during the 4th quarter. Integrated Investment Consultants LLC now owns 2,677 shares of the conglomerate’s stock valued at $511,000 after purchasing an additional 61 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on MMM shares. Barclays decreased their price objective on 3M from $190.00 to $189.00 and set an “underweight” rating on the stock in a research note on Thursday, January 3rd. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. JPMorgan Chase & Co. decreased their price objective on 3M from $158.00 to $154.00 and set an “underweight” rating on the stock in a research note on Friday, March 29th. reiterated a “sell” rating on shares of 3M in a research note on Tuesday, February 12th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $213.00 price objective on shares of 3M in a research note on Wednesday, December 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $205.50.

In related news, VP Ippocratis Vrohidis sold 8,153 shares of the stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $199.51, for a total transaction of $1,626,605.03. Following the completion of the sale, the vice president now directly owns 786 shares in the company, valued at approximately $156,814.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul A. Keel sold 9,410 shares of the stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $199.14, for a total value of $1,873,907.40. Following the sale, the insider now owns 23,009 shares of the company’s stock, valued at $4,582,012.26. The disclosure for this sale can be found here. Insiders sold a total of 77,414 shares of company stock valued at $15,553,682 over the last quarter. Company insiders own 0.72% of the company’s stock.

3M stock opened at $217.42 on Monday. 3M Co has a 52 week low of $176.87 and a 52 week high of $221.69. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.89 and a quick ratio of 1.29. The stock has a market cap of $122.95 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.00 and a beta of 1.05.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.28 by $0.03. 3M had a return on equity of 57.70% and a net margin of 16.33%. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $7.87 billion. During the same period in the previous year, the business earned $2.10 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that 3M Co will post 10.51 earnings per share for the current fiscal year.

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About 3M

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

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