Barber Financial Group Inc. lowered its holdings in shares of 3M Co (NYSE:MMM) by 16.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,057 shares of the conglomerate’s stock after selling 589 shares during the quarter. Barber Financial Group Inc.’s holdings in 3M were worth $517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. Destination Wealth Management grew its stake in shares of 3M by 3.3% during the 2nd quarter. Destination Wealth Management now owns 1,841 shares of the conglomerate’s stock valued at $319,000 after acquiring an additional 59 shares during the period. Northwest Bancshares Inc. grew its stake in shares of 3M by 4.4% during the 2nd quarter. Northwest Bancshares Inc. now owns 1,427 shares of the conglomerate’s stock valued at $247,000 after acquiring an additional 60 shares during the period. Newman Dignan & Sheerar Inc. grew its stake in shares of 3M by 2.6% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 2,408 shares of the conglomerate’s stock valued at $417,000 after acquiring an additional 60 shares during the period. Private Vista LLC boosted its stake in 3M by 5.1% in the 3rd quarter. Private Vista LLC now owns 1,227 shares of the conglomerate’s stock worth $202,000 after purchasing an additional 60 shares during the period. Finally, West Coast Financial LLC boosted its stake in 3M by 0.3% in the 3rd quarter. West Coast Financial LLC now owns 19,416 shares of the conglomerate’s stock worth $3,192,000 after purchasing an additional 64 shares during the period. 66.69% of the stock is owned by hedge funds and other institutional investors.

MMM has been the subject of several recent analyst reports. Credit Suisse Group upped their price target on 3M from $180.00 to $194.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Citigroup dropped their price target on 3M from $197.00 to $180.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Wolfe Research set a $177.00 price target on 3M and gave the stock a “sell” rating in a research note on Friday, October 25th. Morgan Stanley dropped their price target on 3M from $173.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Finally, Royal Bank of Canada dropped their price target on 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, October 25th. Five analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $174.08.

In other news, EVP Khandpur K. Ashish sold 3,362 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $174.20, for a total transaction of $585,660.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Eric D. Hammes sold 1,341 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $174.25, for a total value of $233,669.25. The disclosure for this sale can be found here. 0.83% of the stock is owned by corporate insiders.

MMM stock opened at $173.15 on Friday. 3M Co has a 1-year low of $150.58 and a 1-year high of $219.75. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. The company has a market capitalization of $100.79 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 2.03 and a beta of 1.10. The business has a 50 day simple moving average of $163.83 and a two-hundred day simple moving average of $169.15.

3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.49 by $0.09. The business had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $8.20 billion. 3M had a return on equity of 54.02% and a net margin of 15.48%. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.58 EPS. Sell-side analysts anticipate that 3M Co will post 9.09 EPS for the current fiscal year.

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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