San Francisco Sentry Investment Group CA boosted its position in shares of 3M Co. (NYSE:MMM) by 11.3% during the second quarter, Holdings Channel reports. The institutional investor owned 6,726 shares of the company’s stock after buying an additional 685 shares during the period. San Francisco Sentry Investment Group CA’s holdings in 3M were worth $1,178,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Reilly Financial Advisors LLC increased its position in 3M by 38.1% in the second quarter. Reilly Financial Advisors LLC now owns 645 shares of the company’s stock worth $113,000 after buying an additional 178 shares in the last quarter. CenturyLink Investment Management Co bought a new position in 3M during the second quarter worth $116,000. Jackson Grant Investment Advisers Inc. increased its position in 3M by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock worth $124,000 after buying an additional 49 shares in the last quarter. Parasol Investment Management LLC increased its position in shares of 3M by 12.6% in the second quarter. Parasol Investment Management LLC now owns 896 shares of the company’s stock valued at $157,000 after buying an additional 100 shares in the last quarter. Finally, Pointe Capital Management LLC acquired a new position in shares of 3M during the second quarter valued at approximately $201,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.
3M Co. (NYSE:MMM) opened at 171.13 on Friday. The stock’s 50 day moving average price is $176.35 and its 200-day moving average price is $173.25. The firm has a market cap of $103.43 billion, a PE ratio of 21.84 and a beta of 0.99. 3M Co. has a 12-month low of $134.64 and a 12-month high of $182.27.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.01. The company earned $7.70 billion during the quarter, compared to the consensus estimate of $7.73 billion. 3M had a return on equity of 41.84% and a net margin of 16.29%. 3M’s revenue was down .3% on a year-over-year basis. During the same period last year, the business posted $2.02 earnings per share. Equities research analysts anticipate that 3M Co. will post $8.21 earnings per share for the current fiscal year.
MMM has been the subject of several research analyst reports. Sanford C. Bernstein reiterated a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of 3M in a research note on Wednesday, July 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of 3M in a research note on Sunday, July 10th. Morgan Stanley reiterated a “sell” rating and set a $168.00 target price on shares of 3M in a research note on Tuesday, August 23rd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $164.00 target price on shares of 3M in a research note on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $167.11.
In related news, VP Khandpur K. Ashish sold 1,679 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $178.39, for a total transaction of $299,516.81. Following the completion of the sale, the vice president now directly owns 1,011 shares of the company’s stock, valued at $180,352.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James L. Bauman sold 9,066 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $178.42, for a total value of $1,617,555.72. Following the sale, the insider now directly owns 10,834 shares of the company’s stock, valued at $1,933,002.28. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
3M Company Profile
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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