Stock Yards Bank & Trust Co. boosted its position in 3M Co (NYSE:MMM) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 16,133 shares of the conglomerate’s stock after purchasing an additional 109 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in 3M were worth $2,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Lenox Wealth Advisors LLC lifted its stake in 3M by 5.7% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 1,218 shares of the conglomerate’s stock worth $190,000 after purchasing an additional 66 shares in the last quarter. Tsfg LLC lifted its stake in 3M by 52.7% in the 1st quarter. Tsfg LLC now owns 200 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. CCM Investment Advisers LLC lifted its stake in 3M by 5.2% in the 4th quarter. CCM Investment Advisers LLC now owns 1,414 shares of the conglomerate’s stock worth $249,000 after purchasing an additional 70 shares in the last quarter. SP Asset Management raised its position in shares of 3M by 0.4% during the 1st quarter. SP Asset Management now owns 18,187 shares of the conglomerate’s stock valued at $2,483,000 after buying an additional 71 shares in the last quarter. Finally, Day & Ennis LLC raised its position in shares of 3M by 4.4% during the 1st quarter. Day & Ennis LLC now owns 1,746 shares of the conglomerate’s stock valued at $238,000 after buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

In other news, CEO Michael F. Roman sold 7,894 shares of 3M stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $148.70, for a total transaction of $1,173,837.80. Following the sale, the chief executive officer now owns 57,868 shares of the company’s stock, valued at approximately $8,604,971.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Ty R. Silberhorn sold 14,623 shares of 3M stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $146.46, for a total transaction of $2,141,684.58. Following the sale, the senior vice president now directly owns 16,571 shares in the company, valued at approximately $2,426,988.66. The disclosure for this sale can be found here. Insiders have sold a total of 40,184 shares of company stock worth $5,930,874 in the last ninety days. Insiders own 0.42% of the company’s stock.

MMM has been the topic of several research reports. Barclays lowered their price objective on shares of 3M from $159.00 to $156.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 7th. Credit Suisse Group raised their price objective on shares of 3M from $165.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Bank of America raised their price objective on shares of 3M from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Royal Bank of Canada raised their price objective on shares of 3M from $143.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Citigroup raised their price objective on shares of 3M from $146.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $162.00.

NYSE:MMM traded up $3.73 during trading hours on Tuesday, reaching $158.54. The company’s stock had a trading volume of 3,193,267 shares, compared to its average volume of 4,103,720. The firm has a market capitalization of $89.05 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 2.03 and a beta of 0.99. 3M Co has a 1 year low of $114.04 and a 1 year high of $187.72. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.19 and a current ratio of 1.65. The firm has a 50-day simple moving average of $156.90 and a 200-day simple moving average of $155.33.

3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 28th. The conglomerate reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.13. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.86 billion. 3M had a net margin of 15.37% and a return on equity of 50.24%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. Equities analysts anticipate that 3M Co will post 7.91 earnings per share for the current fiscal year.

3M Company Profile

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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