3M Co (NYSE:MMM) Shares Sold by Huntington National Bank

Huntington National Bank lessened its stake in 3M Co (NYSE:MMM) by 5.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund 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 quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Thompson Investment Management Inc. increased its holdings in 3M by 0.7% in the 2nd quarter. Thompson Investment Management Inc. now owns 9,270 shares of the conglomerate’s stock valued at $1,446,000 after purchasing an additional 63 shares during the last quarter. Grandfield & Dodd LLC grew its stake in shares of 3M by 0.6% in the second quarter. Grandfield & Dodd LLC now owns 11,122 shares of the conglomerate’s stock worth $1,730,000 after acquiring an additional 63 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of 3M by 0.6% in the second quarter. Belpointe Asset Management LLC now owns 11,245 shares of the conglomerate’s stock worth $1,754,000 after acquiring an additional 65 shares in the last quarter. Granite Investment Advisors LLC grew its stake in shares of 3M by 1.7% in the second quarter. Granite Investment Advisors LLC now owns 3,996 shares of the conglomerate’s stock worth $623,000 after acquiring an additional 65 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. grew its stake in shares of 3M by 2.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 2,365 shares of the conglomerate’s stock worth $369,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.

Shares of NYSE:MMM traded down $1.65 on Friday, reaching $150.47. The company’s stock had a trading volume of 3,266,644 shares, compared to its average volume of 2,588,002. The stock’s 50-day moving average is $156.57 and its two-hundred day moving average is $153.55. 3M Co has a 52-week low of $114.04 and a 52-week high of $182.54. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.94 and a quick ratio of 1.19. The stock has a market capitalization of $87.62 billion, a P/E ratio of 17.06, a PEG ratio of 1.96 and a beta of 0.99.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 28th. The conglomerate reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. 3M had a net margin of 16.38% and a return on equity of 46.86%. The business had revenue of $7.18 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The business’s revenue was down 12.2% compared to the same quarter last year. Equities analysts forecast that 3M Co will post 8.15 earnings per share for the current fiscal year.

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

MMM has been the subject of several research reports. Royal Bank of Canada boosted their price target on shares of 3M from $158.00 to $170.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Credit Suisse Group dropped their price target on shares of 3M from $180.00 to $179.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley boosted their price target on shares of 3M from $160.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Bank of America lifted their price objective on shares of 3M from $165.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Deutsche Bank lifted their price objective on shares of 3M from $158.00 to $163.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. 3M has an average rating of “Hold” and a consensus price target of $164.15.

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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