3M Co (MMM) Shares Sold by Bristol John W & Co. Inc. NY

Bristol John W & Co. Inc. NY reduced its stake in 3M Co (NYSE:MMM) by 0.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,871 shares of the conglomerate’s stock after selling 1,938 shares during the period. 3M comprises approximately 2.1% of Bristol John W & Co. Inc. NY’s investment portfolio, making the stock its 23rd largest position. Bristol John W & Co. Inc. NY’s holdings in 3M were worth $77,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MMM. BlackRock Inc. raised its holdings in 3M by 3.0% in the 4th quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock valued at $7,435,433,000 after buying an additional 1,152,714 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in 3M by 17,350.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock valued at $141,000 after buying an additional 26,742,875 shares during the last quarter. Northern Trust Corp raised its holdings in 3M by 2.4% in the 4th quarter. Northern Trust Corp now owns 8,011,899 shares of the conglomerate’s stock valued at $1,526,587,000 after buying an additional 186,257 shares during the last quarter. Geode Capital Management LLC raised its holdings in 3M by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 7,416,248 shares of the conglomerate’s stock valued at $1,410,584,000 after buying an additional 353,754 shares during the last quarter. Finally, Norges Bank bought a new position in 3M in the 4th quarter valued at approximately $918,305,000. Institutional investors own 67.22% of the company’s stock.

A number of brokerages recently issued reports on MMM. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. Morgan Stanley dropped their price objective on shares of 3M from $201.00 to $199.00 and set an “equal weight” rating for the company in a report on Friday, March 22nd. Wolfe Research set a $174.00 price objective on shares of 3M and gave the company a “sell” rating in a report on Friday, April 26th. Barclays dropped their price objective on shares of 3M from $189.00 to $188.00 and set an “underweight” rating for the company in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of 3M from $158.00 to $154.00 and set an “underweight” rating for the company in a report on Friday, March 29th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $197.92.



In other news, Director Gregory R. Page purchased 1,000 shares of the stock in a transaction on Thursday, May 9th. The stock was purchased at an average price of $176.26 per share, for a total transaction of $176,260.00. Following the acquisition, the director now owns 4,000 shares in the company, valued at $705,040. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joaquin Delgado sold 4,897 shares of the firm’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $207.30, for a total transaction of $1,015,148.10. Following the transaction, the executive vice president now owns 23,191 shares of the company’s stock, valued at approximately $4,807,494.30. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by company insiders.

3M stock opened at $175.21 on Wednesday. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.02 and a quick ratio of 1.38. 3M Co has a 52-week low of $172.79 and a 52-week high of $219.75. The company has a market cap of $101.04 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.82 and a beta of 0.99.

3M (NYSE:MMM) last released its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.27). 3M had a return on equity of 57.42% and a net margin of 17.43%. The firm had revenue of $7.86 billion for the quarter, compared to the consensus estimate of $8.02 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. Analysts forecast that 3M Co will post 9.45 earnings per share for the current year.

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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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