Hyman Charles D Sells 964 Shares of 3M (NYSE:MMM)


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Hyman Charles D decreased its holdings in shares of 3M (NYSE:MMM) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,461 shares of the conglomerate’s stock after selling 964 shares during the period. Hyman Charles D’s holdings in 3M were worth $13,769,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of MMM. IHT Wealth Management LLC grew its position in shares of 3M by 22.8% during the 3rd quarter. IHT Wealth Management LLC now owns 3,939 shares of the conglomerate’s stock valued at $631,000 after acquiring an additional 732 shares during the period. Kathmere Capital Management LLC purchased a new position in shares of 3M during the 3rd quarter valued at $137,000. Brinker Capital Investments LLC purchased a new position in shares of 3M during the 3rd quarter valued at $546,000. Rockland Trust Co. lifted its stake in shares of 3M by 3.8% during the 4th quarter. Rockland Trust Co. now owns 93,353 shares of the conglomerate’s stock valued at $16,318,000 after buying an additional 3,400 shares in the last quarter. Finally, Thomasville National Bank lifted its stake in shares of 3M by 2.4% during the 4th quarter. Thomasville National Bank now owns 9,367 shares of the conglomerate’s stock valued at $1,637,000 after buying an additional 217 shares in the last quarter. 64.68% of the stock is owned by hedge funds and other institutional investors.

In related news, VP Ivan K. Fong sold 12,059 shares of the company’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $198.46, for a total value of $2,393,229.14. Following the completion of the sale, the vice president now owns 47,872 shares in the company, valued at approximately $9,500,677.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kristen M. Ludgate sold 933 shares of the company’s stock in a transaction on Wednesday, April 21st. The shares were sold at an average price of $200.00, for a total transaction of $186,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,042 shares of company stock valued at $2,588,687 in the last 90 days. Insiders own 0.42% of the company’s stock.

Several analysts have commented on MMM shares. JPMorgan Chase & Co. upgraded shares of 3M from a “neutral” rating to an “overweight” rating and set a $205.00 price target on the stock in a research note on Wednesday, January 27th. Bank of America downgraded shares of 3M from a “neutral” rating to an “underperform” rating and set a $170.00 price target on the stock. in a report on Thursday, January 7th. Argus upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $200.00 target price on the stock in a research note on Wednesday, February 3rd. Citigroup upped their target price on shares of 3M from $185.00 to $188.00 in a research note on Wednesday, January 27th. Finally, Credit Suisse Group lowered their price target on shares of 3M from $213.00 to $210.00 and set an “outperform” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus target price of $193.45.

NYSE MMM traded up $0.86 on Tuesday, hitting $199.47. 45,521 shares of the stock were exchanged, compared to its average volume of 2,705,453. The company has a quick ratio of 1.37, a current ratio of 1.90 and a debt-to-equity ratio of 1.54. 3M has a fifty-two week low of $131.12 and a fifty-two week high of $203.15. The company has a market cap of $115.63 billion, a PE ratio of 23.28, a PEG ratio of 1.85 and a beta of 0.92. The company has a 50-day moving average price of $195.03 and a 200-day moving average price of $178.49.

3M (NYSE:MMM) last issued its quarterly earnings data on Monday, April 26th. The conglomerate reported $2.77 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.48. The business had revenue of $8.85 billion during the quarter, compared to the consensus estimate of $8.43 billion. 3M had a net margin of 15.65% and a return on equity of 44.77%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, equities research analysts predict that 3M will post 8.56 EPS for the current fiscal year.

About 3M

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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