Arlington Partners LLC Trims Stock Position in 3M Co (NYSE:MMM)

Arlington Partners LLC trimmed its holdings in 3M Co (NYSE:MMM) by 80.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,212 shares of the conglomerate’s stock after selling 4,971 shares during the quarter. Arlington Partners LLC’s holdings in 3M were worth $199,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Destination Wealth Management raised its holdings in 3M by 3.3% in 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 last quarter. Northwest Bancshares Inc. raised its holdings in 3M by 4.4% in 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 last quarter. Newman Dignan & Sheerar Inc. raised its holdings in 3M by 2.6% in 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 last quarter. West Coast Financial LLC raised its holdings in 3M by 0.3% in the 3rd quarter. West Coast Financial LLC now owns 19,416 shares of the conglomerate’s stock valued at $3,192,000 after acquiring an additional 64 shares during the last quarter. Finally, Advisors Management Group Inc. ADV raised its holdings in 3M by 2.4% in the 2nd quarter. Advisors Management Group Inc. ADV now owns 2,776 shares of the conglomerate’s stock valued at $481,000 after acquiring an additional 65 shares during the last quarter. 66.69% of the stock is currently owned by institutional investors.

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

Shares of NYSE:MMM traded down $1.37 during mid-day trading on Friday, reaching $173.15. 1,573,472 shares of the company were exchanged, compared to its average volume of 2,790,791. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.30 and a quick ratio of 1.79. 3M Co has a 1 year low of $150.58 and a 1 year high of $219.75. The firm has a market cap of $100.79 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 2.03 and a beta of 1.10. The firm’s 50-day simple moving average is $163.83 and its 200 day simple moving average is $169.15.

3M (NYSE:MMM) last issued its quarterly earnings results on Thursday, October 24th. The conglomerate reported $2.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.09. 3M had a net margin of 15.48% and a return on equity of 54.02%. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $8.20 billion. During the same quarter last year, the company posted $2.58 EPS. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, research analysts forecast that 3M Co will post 9.09 earnings per share for the current fiscal year.

MMM has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of 3M from $165.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, October 25th. JPMorgan Chase & Co. raised their price target on shares of 3M from $140.00 to $143.00 and gave the stock an “underweight” rating in a report on Thursday, October 10th. Barclays cut their price target on shares of 3M from $158.00 to $157.00 and set an “underweight” rating for the company in a report on Monday, October 28th. Zacks Investment Research downgraded shares of 3M from a “hold” rating to a “sell” rating and set a $166.00 price target for the company. in a report on Monday, October 14th. Finally, Credit Suisse Group raised their price target on shares of 3M from $180.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $174.08.

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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