Cubic Asset Management LLC Has $6.72 Million Position in 3M Co (MMM)

Cubic Asset Management LLC trimmed its position in 3M Co (NYSE:MMM) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,892 shares of the conglomerate’s stock after selling 322 shares during the quarter. 3M comprises approximately 1.8% of Cubic Asset Management LLC’s holdings, making the stock its 12th biggest position. Cubic Asset Management LLC’s holdings in 3M were worth $6,720,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. grew its holdings in 3M by 1,652.8% during the 2nd quarter. SRS Capital Advisors Inc. now owns 631 shares of the conglomerate’s stock valued at $124,000 after buying an additional 595 shares in the last quarter. Avestar Capital LLC grew its holdings in 3M by 161.2% during the 2nd quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock valued at $130,000 after buying an additional 432 shares in the last quarter. Braun Bostich & Associates Inc. grew its holdings in 3M by 221.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock valued at $137,000 after buying an additional 481 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in 3M during the 2nd quarter valued at approximately $149,000. Finally, Reilly Financial Advisors LLC grew its holdings in 3M by 97.8% during the 3rd quarter. Reilly Financial Advisors LLC now owns 825 shares of the conglomerate’s stock valued at $174,000 after buying an additional 408 shares in the last quarter. 67.19% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on MMM shares. MED lowered shares of 3M from a “buy” rating to a “hold” rating and set a $208.00 price objective for the company. in a report on Thursday, July 12th. Deutsche Bank reaffirmed a “hold” rating and set a $208.00 price objective on shares of 3M in a report on Thursday, July 12th. ValuEngine raised shares of 3M from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $234.00 price objective on shares of 3M in a report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $225.23.



In related news, insider Jon T. Lindekugel sold 6,410 shares of the firm’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $203.01, for a total value of $1,301,294.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric D. Hammes sold 1,272 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $216.00, for a total transaction of $274,752.00. Following the completion of the transaction, the insider now directly owns 5,634 shares of the company’s stock, valued at $1,216,944. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

MMM stock opened at $190.26 on Thursday. 3M Co has a fifty-two week low of $181.98 and a fifty-two week high of $259.77. The company has a quick ratio of 1.36, a current ratio of 1.97 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $107.69 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 1.82 and a beta of 1.15.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 23rd. The conglomerate reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.12). 3M had a net margin of 13.79% and a return on equity of 54.60%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.41 billion. During the same period last year, the business posted $2.33 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict that 3M Co will post 10.03 earnings per share for the current year.

3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and 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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