3M Co (NYSE:MMM) Shares Sold by Valeo Financial Advisors LLC

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Valeo Financial Advisors LLC decreased its holdings in 3M Co (NYSE:MMM) by 21.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,141 shares of the conglomerate’s stock after selling 1,415 shares during the quarter. Valeo Financial Advisors LLC’s holdings in 3M were worth $1,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cadinha & Co. LLC raised its holdings in shares of 3M by 3.9% during the second quarter. Cadinha & Co. LLC now owns 6,390 shares of the conglomerate’s stock valued at $1,257,000 after acquiring an additional 240 shares during the last quarter. Montecito Bank & Trust raised its holdings in shares of 3M by 3.8% during the second quarter. Montecito Bank & Trust now owns 6,680 shares of the conglomerate’s stock valued at $1,314,000 after acquiring an additional 242 shares during the last quarter. REDW Stanley Financial Advisors LLC raised its holdings in shares of 3M by 8.2% during the second quarter. REDW Stanley Financial Advisors LLC now owns 3,294 shares of the conglomerate’s stock valued at $648,000 after acquiring an additional 250 shares during the last quarter. Ascension Asset Management LLC raised its holdings in shares of 3M by 3.3% during the second quarter. Ascension Asset Management LLC now owns 7,775 shares of the conglomerate’s stock valued at $1,529,000 after acquiring an additional 250 shares during the last quarter. Finally, Ausdal Financial Partners Inc. raised its holdings in shares of 3M by 12.2% during the second quarter. Ausdal Financial Partners Inc. now owns 2,338 shares of the conglomerate’s stock valued at $460,000 after acquiring an additional 254 shares during the last quarter. 66.98% of the stock is owned by institutional investors.

A number of brokerages have commented on MMM. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. UBS Group upped their price target on 3M from $215.00 to $220.00 and gave the company a “neutral” rating in a research report on Thursday, August 30th. Deutsche Bank upped their price target on 3M from $210.00 to $220.00 and gave the company a “hold” rating in a research report on Friday, September 28th. Morgan Stanley began coverage on 3M in a research report on Monday, August 20th. They issued an “equal weight” rating and a $212.00 price target for the company. Finally, Barclays dropped their price target on 3M from $210.00 to $201.00 and set an “underweight” rating for the company in a research report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $233.79.

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

3M stock traded up $1.50 during mid-day trading on Friday, hitting $198.23. The company’s stock had a trading volume of 2,765,881 shares, compared to its average volume of 2,568,672. The firm has a market capitalization of $123.61 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.02 and a beta of 1.15. 3M Co has a 1 year low of $190.57 and a 1 year high of $259.77. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.56.

3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.01. The company had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.36 billion. 3M had a return on equity of 51.31% and a net margin of 13.44%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 earnings per share. Analysts forecast that 3M Co will post 10.28 EPS for the current year.

About 3M

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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