Chevy Chase Trust Holdings Inc. decreased its position in shares of 3M Co (NYSE:MMM) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 708,500 shares of the conglomerate’s stock after selling 8,759 shares during the quarter. 3M accounts for approximately 0.7% of Chevy Chase Trust Holdings Inc.’s holdings, making the stock its 29th largest position. Chevy Chase Trust Holdings Inc.’s holdings in 3M were worth $166,758,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MMM. Schwab Charles Investment Management Inc. boosted its stake in 3M by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock worth $746,391,000 after purchasing an additional 142,799 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of 3M by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock valued at $399,069,000 after acquiring an additional 89,307 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of 3M by 0.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock valued at $356,877,000 after acquiring an additional 8,500 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of 3M by 0.9% in the 3rd quarter. Rhumbline Advisers now owns 1,124,531 shares of the conglomerate’s stock valued at $236,039,000 after acquiring an additional 9,617 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of 3M by 38.9% in the 4th quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock valued at $218,981,000 after acquiring an additional 260,349 shares in the last quarter. Institutional investors own 66.29% of the company’s stock.

3M Co (NYSE MMM) opened at $247.30 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. 3M Co has a 1 year low of $173.55 and a 1 year high of $249.00. The stock has a market capitalization of $147,290.00, a P/E ratio of 27.60, a P/E/G ratio of 2.48 and a beta of 1.10.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company earned $2.15 EPS. 3M’s revenue for the quarter was up 6.0% compared to the same quarter last year. analysts predict that 3M Co will post 9.1 earnings per share for the current year.

In related news, VP Khandpur K. Ashish sold 4,004 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total transaction of $926,485.56. Following the transaction, the vice president now directly owns 5,236 shares in the company, valued at approximately $1,211,558.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Frank R. Jr. Little sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is owned by corporate insiders.

MMM has been the topic of a number of research reports. Jefferies Group raised their price objective on 3M to $262.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Bank of America raised their price objective on 3M from $227.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $248.00 price objective on the stock in a report on Wednesday, October 25th. Argus raised their price objective on 3M from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Citigroup reissued a “buy” rating and set a $250.00 price objective (up from $228.00) on shares of 3M in a report on Monday, October 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $235.01.

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3M Company Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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

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