3M Co (NYSE:MMM) Shares Sold by Pratt Collard Advisory Partners LLC

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Pratt Collard Advisory Partners LLC reduced its stake in shares of 3M Co (NYSE:MMM) by 2.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,133 shares of the conglomerate’s stock after selling 223 shares during the quarter. 3M comprises approximately 1.3% of Pratt Collard Advisory Partners LLC’s holdings, making the stock its 25th biggest position. Pratt Collard Advisory Partners LLC’s holdings in 3M were worth $1,666,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MMM. Kempen Capital Management N.V. acquired a new stake in shares of 3M during the 2nd quarter valued at about $25,000. Atwater Malick LLC acquired a new stake in shares of 3M during the 3rd quarter valued at about $30,000. Weaver Consulting Group acquired a new stake in shares of 3M during the 1st quarter valued at about $32,000. Arcus Capital Partners LLC acquired a new stake in shares of 3M during the 2nd quarter valued at about $35,000. Finally, SRS Capital Advisors Inc. acquired a new stake in shares of 3M during the 2nd quarter valued at about $37,000. 66.78% of the stock is currently owned by institutional investors.

3M stock traded down $0.19 during midday trading on Friday, reaching $163.35. The company had a trading volume of 90,807 shares, compared to its average volume of 2,942,137. The company has a market capitalization of $93.76 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.87 and a beta of 1.11. 3M Co has a 12-month low of $150.58 and a 12-month high of $219.75. The firm’s fifty day simple moving average is $162.27 and its 200-day simple moving average is $174.27. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34.

3M (NYSE:MMM) last issued its quarterly earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. The firm had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. 3M had a net margin of 15.27% and a return on equity of 55.05%. 3M’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $2.59 EPS. On average, analysts expect that 3M Co will post 9.18 EPS for the current fiscal year.

In related news, insider John Patrick Banovetz sold 1,040 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $170.40, for a total value of $177,216.00. Following the transaction, the insider now directly owns 5,974 shares of the company’s stock, valued at approximately $1,017,969.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.83% of the company’s stock.

A number of equities research analysts have recently commented on MMM shares. Citigroup dropped their target price on 3M from $197.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday. Credit Suisse Group raised their target price on 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. They noted that the move was a valuation call. Bank of America dropped their target price on 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. JPMorgan Chase & Co. raised their price target on shares of 3M from $140.00 to $143.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada set a $179.00 price target on shares of 3M and gave the company a “hold” rating in a research note on Friday, July 26th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $179.54.

3M Company 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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