3M Co (NYSE:MMM) Holdings Raised by Thomas Story & Son LLC

Thomas Story & Son LLC grew its stake in shares of 3M Co (NYSE:MMM) by 0.3% in the 4th quarter, HoldingsChannel reports. The firm owned 39,182 shares of the conglomerate’s stock after acquiring an additional 120 shares during the quarter. 3M makes up about 3.4% of Thomas Story & Son LLC’s portfolio, making the stock its 12th biggest position. Thomas Story & Son LLC’s holdings in 3M were worth $6,912,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. 1 North Wealth Services LLC acquired a new stake in 3M in the 3rd quarter valued at approximately $26,000. Atwater Malick LLC bought a new position in shares of 3M during the 3rd quarter worth approximately $30,000. Bridger Capital Management LLC bought a new position in shares of 3M during the 3rd quarter worth approximately $33,000. Kessler Investment Group LLC bought a new position in 3M in the 4th quarter valued at $35,000. Finally, Prestige Wealth Management Group LLC raised its position in 3M by 73.5% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 236 shares of the conglomerate’s stock valued at $39,000 after purchasing an additional 100 shares during the last quarter. 66.51% of the stock is owned by hedge funds and other institutional investors.

Shares of 3M stock traded up $0.36 on Monday, hitting $178.51. The stock had a trading volume of 749,531 shares, compared to its average volume of 2,255,072. 3M Co has a twelve month low of $150.58 and a twelve month high of $219.75. The business’s 50 day moving average is $176.20 and its two-hundred day moving average is $168.76. The company has a quick ratio of 1.79, a current ratio of 2.30 and a debt-to-equity ratio of 1.68. The stock has a market cap of $102.45 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.10.

3M (NYSE:MMM) last issued its quarterly earnings results on Thursday, October 24th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.49 by $0.09. 3M had a return on equity of 54.02% and a net margin of 15.48%. The business had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter in the prior year, the business posted $2.58 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, equities analysts predict that 3M Co will post 9.04 earnings per share for the current fiscal year.

A number of equities research analysts recently commented on MMM shares. Wolfe Research raised 3M from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. Barclays decreased their price objective on 3M from $162.00 to $158.00 and set an “underweight” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada decreased their price objective 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. Citigroup cut 3M from a “buy” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research note on Monday, December 9th. Finally, UBS Group cut 3M from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $180.00 to $160.00 in a research note on Thursday, December 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $174.08.

In other news, EVP Julie L. Bushman sold 6,879 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $165.09, for a total value of $1,135,654.11. Also, EVP Khandpur K. Ashish sold 3,362 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $174.20, for a total value of $585,660.40. The disclosure for this sale can be found here. Insiders have sold 13,216 shares of company stock valued at $2,233,940 over the last 90 days. Corporate insiders own 0.83% of the company’s stock.

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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