Huntington National Bank lowered its position in 3M Co (NYSE:MMM) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,773 shares of the conglomerate’s stock after selling 4,975 shares during the period. Huntington National Bank’s holdings in 3M were worth $14,627,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Thompson Investment Management Inc. lifted its position in shares of 3M by 0.7% in the second quarter. Thompson Investment Management Inc. now owns 9,270 shares of the conglomerate’s stock valued at $1,446,000 after acquiring an additional 63 shares in the last quarter. Grandfield & Dodd LLC grew its stake in shares of 3M by 0.6% during the second quarter. Grandfield & Dodd LLC now owns 11,122 shares of the conglomerate’s stock valued at $1,730,000 after buying an additional 63 shares during the last quarter. Belpointe Asset Management LLC grew its stake in shares of 3M by 0.6% during the second quarter. Belpointe Asset Management LLC now owns 11,245 shares of the conglomerate’s stock valued at $1,754,000 after buying an additional 65 shares during the last quarter. Granite Investment Advisors LLC grew its stake in shares of 3M by 1.7% during the second quarter. Granite Investment Advisors LLC now owns 3,996 shares of the conglomerate’s stock valued at $623,000 after buying an additional 65 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. grew its stake in shares of 3M by 2.8% during the second quarter. Campbell Newman Asset Management Inc. now owns 2,365 shares of the conglomerate’s stock valued at $369,000 after buying an additional 65 shares during the last quarter. 65.67% of the stock is owned by institutional investors.

Shares of MMM traded down $1.65 during midday trading on Friday, hitting $150.47. 3,266,644 shares of the company’s stock traded hands, compared to its average volume of 2,588,002. 3M Co has a 1 year low of $114.04 and a 1 year high of $182.54. The firm’s fifty day moving average is $156.57 and its 200-day moving average is $153.55. The company has a current ratio of 1.94, a quick ratio of 1.19 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $87.62 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.96 and a beta of 0.99.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 28th. The conglomerate reported $1.78 EPS for the quarter, beating the consensus estimate of $1.77 by $0.01. 3M had a return on equity of 46.86% and a net margin of 16.38%. The firm had revenue of $7.18 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, equities research analysts anticipate that 3M Co will post 8.15 EPS for the current year.

In related news, SVP Ty R. Silberhorn sold 14,623 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $146.46, for a total value of $2,141,684.58. Following the transaction, the senior vice president now directly owns 16,571 shares of the company’s stock, valued at approximately $2,426,988.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Khandpur K. Ashish sold 3,605 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $146.85, for a total value of $529,394.25. Following the completion of the transaction, the executive vice president now directly owns 19,193 shares in the company, valued at $2,818,492.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,290 shares of company stock valued at $4,757,036. Company insiders own 0.42% of the company’s stock.

A number of research analysts have recently commented on MMM shares. Bank of America upped their target price on 3M from $165.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Credit Suisse Group lowered their price target on 3M from $180.00 to $179.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup boosted their price target on 3M from $146.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating and set a $133.00 price target for the company in a report on Thursday, April 30th. Finally, Royal Bank of Canada boosted their price target on 3M from $158.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. 3M currently has a consensus rating of “Hold” and an average price target of $164.15.

3M 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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